Seoul—South Korea and the United Arab Emirates signed a memorandum of understanding Friday to jointly make inroads into energy markets in third countries and to cooperate on energy-related projects. “Under the accord, the two sides will work together to deepen bilateral cooperation in oil, natural gas, nuclear, carbon capture and sequestration, and other energy sectors,” South Korea’s Ministry of Trade, Industry and Energy said in a statement. The parties will discuss follow-up measures over the first half of the year, the ministry added.
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