The Scottish Government has signed an agreement with South Korea to exchange knowledge, ideas and technologies to develop their marine energy industries.

The Memorandum of Understanding is expected to increase trade links between the two nations and provide a new market for tidal energy firms in Scotland looking to export products and services overseas.

Scotland’s Finance Secretary John Swinney said: “This marks the start of an exciting new journey which will see businesses in Scotland work in partnership with those in South Korea to jointly develop our tidal energy sectors, helping to grow this into a major global industry.

“It is widely recognised that renewable energy is essential for energy security, for environmental sustainability and for economic prosperity. The Scottish Government is eager to maximise those advantages in order to bring new jobs and investment to Scotland and to develop relationships with other nations overseas.”

Scottish Development International, the Government’s trade and investment arm, will work with South Korea’s Incheon Metropolitan City.