The new partnership will strengthen the two countries’ bilateral cooperation in clean energy technology research and development (R&D).

Under the agreement, the countries will cooperate on clean energy research in areas including renewable energy, energy efficiency, smart grid technology, green transportation, carbon capture and storage and energy storage systems.

Researchers from both countries will exchange scientific and technical information, organize workshops and consult to promote joint R&D projects, among other forms of collaboration.

DOE secretary Steven Chu said the agreement will enable the US and the Republic of Korea to expand their strong bilateral cooperation on clean energy.

"By working together toward our shared clean energy goals, we can promote the kind of innovation that will help win the clean energy race," Chu said.