The two countries have created the US-Korea Clean Energy Technology Partnership and will co-operate on research and development across a range of areas.
These include: renewables, energy efficiency, smart grid technology, carbon capture and energy storage.
Speaking about the agreement, US energy secretary Stephen Chu said: "The agreement will enable the United States and the Republic of Korea to expand our already 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 and create jobs in both of our nations."
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