Canadian Prime Minister Justin Trudeau met with South Korean President Yoon Suk-yeol in Seoul on Wednesday. During the meeting, the two countries signed a new Memorandum of Understanding (MOU) focused on “Cooperation in Critical Mineral Supply Chains, the Clean Energy Transition, and Energy Security,” according to a joint statement.

This MOU follows a previous discussion between Yoon and Trudeau in Ottawa last September. Its intention is to support the development of “clean technologies that will power green and sustainable economic growth.” Both leaders emphasized the potential for this agreement to enhance their countries’ global competitiveness in sectors such as battery production and zero-emission vehicles. The joint press conference was held on Wednesday evening, following the summit.