Ministry of Trade Industry and Resources

Minister Ahn speaks at Korea-U.S. Clean Energy Forum

Trade, Industry and Energy Minister Dukgeun Ahn is speaking at the Korea-U.S. Clean Energy Forum on June 25 in Washington D.C., which was attended by U.S. Deputy Secretary of Energy David Turk and representatives of related institutions and energy companies. date2024-06-27

Korea and U.S. to expand clean energy cooperation

The U.S.-ROK Clean Energy Forum was held at the Marriott Marquis Hotel in Washington, D.C., on June 25 as a part of both nations' dedication to accelerating the clean energy transition, expanding clean electricity deployment and building clean energy economies, which the two leaders agreed upon in April last year. About 80 participants from the two governments, industry, academia, and research attended the forum.   The thematic sessions covered advanced battery technology development and demonstration, energy storage systems (ESS) to expand clean electricity; clean energy investment and financing; electricity power grid innovation for a reliable, resilient, stable, and affordable system; and commercialization and deployment of clean hydrogen technologies, including mobility, supply chain, and certification. These discussions among government officials and experts from industry, academia, and laboratories illuminated the vast opportunities and challenges for bilateral cooperation in each of these areas, painting a promising picture for the future of clean energy.   In his congratulatory address, Minister Dukgeun Ahn reiterated the importance of the forum, stating that "We have a valuable opportunity to unlock further potential for Korea and the United States to engage in mutual efforts towards a clean energy future while the Korean private sector has responded to the attractive IRA incentives by investing in the United States." He also proposed to "regularize the U.S.-ROK Clean Energy Forum and continue the energy policy dialogue at the Ministerial level. By strengthening our energy cooperation, I am confident that we can achieve energy security and address the climate crisis facing our world together."   date2024-06-27

Trade Minister attends Global Net Zero Connection 2024

Minister for Trade Inkyo Cheong attended Global Net Zero Connection 2024 on June 24 in Seoul and signed the cooperation MOU on greenhouse gas (GHG) emission mitigation with the Cambodian Ministry of Environment and Bangladeshi Ministry of Environment, Forest and Climate Change for uncovering joint GHG reduction projects and developing procedures and standards for transferring mitigation outcomes.   Trade Minister Cheong gave a welcome address to the 160 attendees at the event, composed of representatives from Cambodia, Bangladesh, Laos, Kenya, Ghana, Sri Lanka, and Uzbekistan, as well as CEOs of Korean and overseas companies. date2024-06-26

Minister Ahn meets Deputy Secretary of U.S. Department of Energy

Trade, Industry and Energy Minister Dukgeun Ahn met with Deputy Secretary of the U.S. Department of Energy David M. Turk on June 25 in Washington D.C. on the margins of the first Korea-U.S.-Japan trilateral industrial ministerial and discussed measures for stronger Korea-U.S. energy cooperation. date2024-06-26

Connecting efforts for GHG mitigation, Global Net Zero Connection 2024 launches in Seoul

The Ministry of Trade, Industry and Energy (MOTIE) is hosting Global Net Zero Connection 2024 from June 24–25 in Seoul for discussing measures on reducing greenhouse gas (GHG) emissions with Cambodia, Bangladesh, Lao PDR, Kenya, Ghana, Sri Lanka, and Uzbekistan.   Launched to accelerate GHG mitigation efforts worldwide, Global Net Zero Connection 2024 will be running a policy forum, one-on-one business meetings, and intergovernmental bilateral talks with the participation of 60 domestic and overseas companies and the above seven countries’ government institutions.   In his opening address, Minister for Trade Inkyo Cheong emphasized the need for strengthening cooperation and uncovering joint projects in achieving the global goal of GHG mitigation and vowed support for partner countries’ efforts to establish relevant laws and nurture related capacity.   On the margins of the event, MOTIE will enter memorandums of understanding (MOUs) on GHG reduction cooperation with the Cambodian Ministry of Environment and Bangladeshi Ministry of Environment, Forest and Climate Change, following its MOUs with Vietnam and Indonesia sealed in June of 2023 and 2024, respectively. The MOUs focus on uncovering joint GHG reduction projects and developing procedures and standards for transferring mitigation outcomes.   At present, MOTIE is running four demonstration projects on international GHG mitigation and plans to support additional demonstration projects and feasibility study projects. date2024-06-24

MOTIE and KORAD call for site proposals for underground high-level radioactive waste research facility

The Ministry of Trade, Industry and Energy (MOTIE) and Korea Radioactive Waste Agency (KORAD) are calling for site proposals for underground facilities for high-level radioactive waste research beginning June 18 in accordance with the radioactive waste management technology development measures specified in the Korean government’s second high-level radioactive waste management basic plan (December 2021) and the High-Level Radioactive Waste R&D Roadmap (February 2024).   The underground research facilities are for conducting studies on Korea’s rock mass properties and disposal system performance at 500m underground, at a depth similar to that of disposal facilities. The research facility will be built at a site entirely separate from high-level radioactive waste disposal facilities, without admitting any radioactive waste or used nuclear fuel inside the area, and is for only research purposes. The U.S., Germany, Sweden, Switzerland, Canada, Belgium, France, and Japan have in the past operated or are currently operating such facilities in their territories.   The focus of the research facilities will be on specialized manpower training and development of disposal technologies suitable for the domestic geological environment, while also providing the general public the opportunity to experience an environment quite similar to that of a high-level radioactive waste disposal facility. Technologies developed in the facility will be utilized in the process of site selection, construction, and management of the high-level radioactive waste disposal facility upon the legislation of the Special Act on High-Level Radioactive Waste Management.   For siting, a site evaluation committee under KORAD will evaluate the site proposals submitted by local governments in terms of geological suitability and such eight criteria with aim to complete the selection process by the end of the year. Construction is to commence in 2026 with completion targeting 2032, and the operation period is approximately 20 years starting from 2030.   MOTIE and KORAD are holding a briefing on June 25 to explain the site selection process to interested local government bodies. Letters of intent and site proposals, respectively, must be submitted by July 19 and August 2, to KORAD. date2024-06-18

Vice Minister visits Haengwon Green Hydrogen Demonstration Complex

Trade, Industry and Energy Vice Minister Namho Choe visited the Haengwon Green Hydrogen Production Facility and the Hamdeok Green Hydrogen Charging Station on June 17 on Jeju Island to see and experience firsthand the first commercialized domestic model of green hydrogen. date2024-06-18

Hydrogen experts gather on Jeju Island for Green Hydrogen Global Forum 2024

The Ministry of Trade, Industry and Energy (MOTIE) and Jeju Special Self-Governing Province are hosting the Green Hydrogen Global Forum 2024 through June 17–19 at the International Convention Center (ICC) on Jeju Island to share clean hydrogen trends and policies and to facilitate discussions on cooperation measures.   Launched in 2023, this year’s Forum draws 400 participants from various countries, including Germany, Norway, and Denmark, composed of hydrogen experts and key government figures and ambassadors. James F. Miller, a senior scientist in the Energy Systems and Infrastructure Analysis division at U.S.’ Argonne National Laboratory, and Marco Alverà, the author of "The Hydrogen Revolution,” gave keynote speeches at the opening ceremony, followed by the “Leadership Dialogue” program.   The second day of the Forum will continue with discussions on measures for establishing the life cycle of clean hydrogen—production, storage, transport, and utilization—as well as sector coupling strategies for invigorating the accommodation of distributed energy resources, such as the conversion of surplus renewable energy to hydrogen.   The last day of the Forum will have members of the general public visit the Haengwon Green Hydrogen Production Facility and the Hamdeok Green Hydrogen Charging Station on the island by bus to see and experience firsthand the first commercialized domestic model of green hydrogen.   In his opening message, Vice Minister Namho Choe stated that “International cooperation and solidarity are key to realizing a clean hydrogen-based hydrogen economy,” and added that he looked forward to seeing the different countries’ governments and global experts take part in the vigorous information exchange and seek measures for mutual cooperation. date2024-06-18

Korea and Japan hold 1st Hydrogen Cooperation Dialogue meeting

Director General for Hydrogen Economy Policy Park Chan-ki and Hiroo Inoue, Director General for Energy Efficiency and Renewable Energy Department at Japan’s Economy, Trade and Industry Ministry (METI), held the first Korea-Japan Hydrogen Cooperation Dialogue meeting on June 14 in Seoul with the participation of eleven related institutions, including Korea’s H2KOREA, Korea Electric Power Corporation (KEPCO), and Korea National Oil Corporation (KNOC), and Japan’s JH2A, Clean Fuel Ammonia Association (CFAA), and Japan Organization for Metals and Energy Security (JOGMEC).   The meeting was held as a follow-up to the agreement made during the Korea-Japan summit talks this May for strengthening hydrogen cooperation, as well as part of bilateral efforts on clean energy areas as discussed at the summit talks at Stanford University, U.S., in 2023.   Both sides shared their recent respective hydrogen policy developments, including the Hydrogen Society Promotion Act that Japan passed on May 17 and the Clean Hydrogen Power Bidding Market that Korea launched on May 24, and agreed to deepen cooperation in clean hydrogen and hydrogen compounds to achieve the nationally determined contributions (NDCs) and secure energy security.   To note, the two countries’ hydrogen related institutions are to form working groups on carbon intensity and certification; standards and criteria; and a safety working group to work out the details for cooperation and to continue discussions on installing additional working groups in the future.   Furthermore, the two sides agreed on the importance of the Korea-Japan business cooperation for diffusing the hydrogen economy ecosystem and expanding joint efforts on the global clean hydrogen supply chain, and decided to seek ways for bilateral private-led hydrogen supply chain cooperation. date2024-06-14

Korea and Kazakhstan to spur synergy in critical minerals, energy, and manufacturing

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 13 that the Korea International Trade Association (KITA) and Samruk Kayzana, Kazakhstan’s sovereign wealth fund, co-hosted the Korea-Kazakhstan Business Forum on June 12 in Astana. The Forum drew approximately 300 persons, including the Korean economic delegation and both countries’ entrepreneurs, and facilitated discussions on bilateral cooperation in critical minerals, energy, trade, investment, finance, new industries, and consumer goods.   MOTIE’s Minister Dukgeun Ahn and Kazakhstan’s Industry and Construction Minister Kanat Sharlapaev attended the memorandum of understanding (MOU) signing ceremony for the inking of 24 private sector MOUs. Five of them were signed in the energy area for combined cycle power plants, renewable energy plants, power grid modernization, small modular reactors (SMRs), and gas treatment plants.   For critical minerals, Korea Institute of Geoscience and Mineral Resources (KIGAM) and SK Ecoplant entered an MOU with the Kazakh Ministry of Industry and Construction on joint lithium mining exploration and development. KIGAM anticipates tangible outcomes, having confirmed the existence of a lithium deposit through lithium mining exploration in tandem with a local Kazakh research institution.   The two countries further concluded MOUs in areas like automobile industry-academia talent nurturing and elevator R&D park establishment (5 MOUs); healthcare and new industries (3 MOUs); and financial assistance (2 MOUs), laying the groundwork for mutual collaboration at the government, public institution, and private sector level. date2024-06-13