STRATEGIC ENERGY: THE EMERGING AUSTRALIA-KOREA HYDROGEN PARTNERSHIP

STRATEGIC ENERGY: THE EMERGING AUSTRALIA-KOREA HYDROGEN PARTNERSHIP
By James Bowen and Kyle Springer on 25 March 2022

Indo-Pacific | Energy and Resources

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Hydrogen is emerging as a strong foundation for the future of the Australia-Korea partnership.

Korea’s growing hydrogen demand strongly complements Australia’s potential to become the region’s hydrogen supply superpower. Hydrogen can serve as a catalyst to evolving the Australia-Korea relationship into a new economic partnership phase.

This transition from ‘peers’ to ‘partners’ can advance more strategic aims, including broader regional leadership and influence.

Existing intergovernmental mechanisms provide a robust basis for bilateral hydrogen cooperation. Korean companies have made significant commitments to the hydrogen industry, creating attractive commercial opportunities for Australia. Joint projects between the two countries on the production of ‘green commodities’ are already in early stages.

Report authors James Bowen and Kyle Springer argue that hydrogen should be a major priority in efforts to develop the next phase of the Australia-Korea economic and strategic relationship.

The Australia-Korea hydrogen partnership faces some challenges, especially around investment in infrastructure across the value chain. To overcome this, supportive regulations, standards, and other policies need to be established. The report provides practical recommendations to ensure the potential of an Australia-Korea hydrogen partnership is realised.