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S. Korea hopes to join U.S. shale, renewable energy projects

All News 15:36 February 03, 2020

SEJONG, Feb. 3 (Yonhap) -- South Korea wants to make inroads into shale and renewable energy projects in the United States under a bilateral infrastructure agreement, a senior Seoul official said Monday.

Vice Finance Minister Kim Yong-beom made the remarks as officials from the two nations held their first working-level meeting in Seoul since Finance Minister Hong Nam-ki and U.S. Treasury Secretary Steven Mnuchin signed the agreement last October.

The agreement calls for joint infrastructure investment in Korea and the U.S. as well as in other countries, such as those in Latin America and Southeast Asia.

The agreement is expected to "give an opportunity for Korean firms to make investments into shale gas pipelines, plant construction and renewable energy development," Kim said at the meeting.

The agreement also includes financial and regulatory cooperation to support the private sector, as well as on forming a working group to jointly develop global infrastructure, the ministry said.

Vice Finance Minister Kim Yong-beom speaks at a meeting on infrastructure projects between South Korea and the U.S. on Feb. 3, 2020. in this photo provided by Seoul's finance ministry. (PHOTO NOT FOR SALE) (Yonhap)


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