"NC "KAZAKH INVEST" JSC and the Korean Hydrogen Industry Association in Ulsan have signed a Memorandum of Understanding during the visit of a South Korean delegation to Kazakhstan. The agreement is aimed at strengthening cooperation in the field of hydrogen industry between the two countries.

The city of Ulsan, which is one of the leaders in liquid hydrogen production, has extensive experience in using hydrogen technologies. In 2013, Ulsan started mass production of vehicles with hydrogen engines for the first time in the world. Currently, hydrogen vehicles, buses, and taxis are widely used in this region.

The Ulsan Free Trade Zone, which supports the hydrogen industry, will also contribute to the development of this industry in Kazakhstan.

Kazakhstan has significant potential for hydrogen production, especially using renewable energy sources such as solar and wind energy. This could reduce dependence on the oil and gas industry and promote the development of environmentally friendly technologies. This is particularly relevant given the RoK Government's strategy to achieve carbon neutrality by 2060.

Azamat Kozhanov, Managing Director of "NC "KAZAKH INVEST" JSC, stated that Kazakhstan and South Korea have agreed to explore prospective projects in the field of hydrogen industry.

"The Korean Association, which includes more than 200 companies, is currently implementing a project to build an energy-efficient, environmentally friendly district in South Korea, functioning on green hydrogen. We plan to study this experience for the possibility of implementing a similar project in Kazakhstan. To achieve carbon neutrality by 2060, we must study the advanced experience of leading countries," said Azamat Kozhanov.

According to the Memorandum, the parties will exchange information and share knowledge with each other in the field of hydrogen production, transportation, and storage, as well as cooperate in scientific research in this area.

In the opinion of the parties, the signing of the Memorandum will contribute to strengthening economic ties between the two countries and opening up new opportunities for mutually beneficial cooperation in other areas.