South Korea and Australia will increase the collaboration on energy and minerals

Sol, April 13 (IANS). South Korea and Australia have decided to strengthen mutual cooperation in energy and major minerals. This decision was made amid the changing global economic environment and business uncertainties. South Korea’s finance ministry informed this on Sunday. The agreement was reached on Friday at a virtual meeting between the South Korean Finance Minister Choi Song-Mok and Australian Treasurer (Minister of Finance) Jim Chalmers. In this meeting, ministers from the two countries acknowledged that increasing uncertainty in the global trading environment could negatively affect their trade -based economies. In such a situation, collaboration is very important to maintain a stable supply chain in the areas of energy and large minerals. The two countries agreed to work in this direction and practice a joint initiative through multilateral forums such as G20. In a statement issued by the South Korea’s finance ministry, it is said: “South Korea and Australia, who were a long partner, will work together to cross the current challenges. South Korea, Australia and other major partner will maintain close dialogues with the countries.” The statement also said that Australia is rich in lithium, cobalt, liquid natural gas (LNG) and other natural resources. In addition, there is also a widespread possibility of the production of clean hydrogen and ammonia due to the favorable weather there. Meanwhile, the foreign exchange market in South Korea saw large ups and downs last week. The ups and downs have continued since the Korean government increased the Von-American dollars trading hours until 02:00 in July 2024 from 09:00 to 02:00 the next day. In the second week of April, 67.6 Von’s fluctuations were recorded in the exchange rate of Von against the dollar, which is the highest since raising the trading hours. When we talk about the old records, these fluctuations are the highest since November 2022, when there were a weekly fluctuations 101 von. The Korean Von closes at US $ 1.421 per US dollar in the post-tour trade on Friday, compared to the previous week. This is the strongest level of Von after December 5. Since December, Von has dropped below the 1.450 level and has been constantly unstable due to US tariff threats and domestic political crisis. -Ians PSM/CBT Share this story Tags