Ministry of Trade Industry and Resources

Korea and Australia to Expand Business Cooperation in Climate, Energy, and Supply Chains

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held the Korea-Australia Green Economy Partnership Arrangement (EPA) Business Forum in Seoul on February 26, 2025. The Forum was held as follow-up to the bilateral Green EPA signed by the two countries’ relevant ministries in December 2024.  Held to expand business cooperation in climate, energy, and supply chain areas, today’s Forum sought to create tangible joint business opportunities in clean hydrogen, carbon capture, utilization, and storage (CCUS), and critical minerals. The Forum brought together major companies from both countries to review progress in clean energy cooperation, establishing the groundwork for wider and more concrete collaboration in the future. Given Korea and Australia’s central roles in the Asia-Pacific region’s clean hydrogen supply chain, the two sides explored joint measures to establish a stable hydrogen supply chain system and reviewed opportunities to participate jointly in global CCUS projects through the cross-border carbon dioxide (CO2) transport and storage cooperation framework developed under the Green EPA. They also discussed measures to promote joint research to diversify critical minerals supply chains and increase joint investments in clean energy technology development. Korea’s Minister for Trade Cheong In-kyo expressed hope that the two countries would produce tangible results in the global clean energy market by combining Korea’s clean energy technology and Australia’s abundant resources.  Australian Ambassador to the Republic of Korea Jeff Robinson highlighted that the bilateral Green EPA would help the two countries catalyze energy transitions, strengthen supply chains, and boost economic opportunities. Building on the Forum, MOTIE plans to continue supporting Korean companies seeking to participate in global clean energy projects and pursue other opportunities for overseas cooperation. date2025-02-26

Korea and Vietnam hold signing of minutes

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Vietnam’s Trade and Industry Minister Nguyen Hong Dien today in Seoul, where the two sides held a ceremony for the signing of minutes of their bilateral ministerial talks. date2025-02-25

Minister Ahn meets Vietnam’s Trade and Industry Minister

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Vietnam’s Trade and Industry Minister Nguyen Hong Dien today in Seoul for bilateral talks on measures to widen energy and trade cooperation. date2025-02-25

Korea and Vietnam to Strengthen Nuclear Power Cooperation

Minister for Trade, Industry and Energy (MOTIE) Ahn Duk-geun met with Vietnam’s Trade and Industry Minister Nguyen Hong Dien today in Seoul on February 25, 2025, to discuss measures to widen energy and trade cooperation. Vietnam is Korea’s largest trading and investment partner in AESAN and its third largest trading partner in the world following China and the U.S.. It is home to approximately 9,000 Korean companies. Today’s bilateral talks took place on the margins of Minister Nguyen Hong Dien’s visit to Korea for discussions on nuclear power cooperation, following Vietnam’s recent decision to resume its nuclear energy development.  During the meeting, the Vietnamese delegation outlined recent developments in the country’s nuclear power policy and proposed expanding nuclear energy cooperation between the two countries. The Korean delegation suggested to resume the bilateral director general-level nuclear industry dialogue channel, which has been on hiatus since 2017, for consultations on more concrete collaboration measures. In view of current uncertainties in the trade landscape, the two sides agreed to maintain close coordination and communication to mitigate business challenges Korean companies experience in Vietnam and to swiftly conclude negotiations on upgrading the Korea-Vietnam Free Trade Agreement (FTA) to facilitate customs clearance for exporters. They also decided to strengthen cooperation in supply chains through the critical minerals supply chain technology cooperation center project to be launched in 2025. date2025-02-25

Korea to Strengthen Energy Cooperation with Türkiye and Saudi Arabia

Deputy Minister for Energy Policy Lee Ho-hyeon at the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) will visit the Republic of Türkiye and Saudi Arabia from February 24 to 27, 2025, for high-level intergovernmental talks on bilateral energy cooperation in areas including nuclear power, power grids, hydrogen, and petroleum. On February 24, Deputy Minister Lee is meeting with Turkish Deputy Ministers of Energy and Natural Resources Zafer Demircan and Ahmet Berat Çonkar to exchange views on various bilateral energy agendas, including nuclear power and clean energy. To secure a stable energy supply, Türkiye is seeking to build a 20GW nuclear reactor by 2050. In addition to implementing the Akkuyu nuclear power plant (NPP) project launched in 2010, the Turkish Ministry of Energy and Natural Resources is currently seeking contractors for new nuclear power projects in the Sinop and Thrace. The high-level visit will resume government-level dialogue on nuclear power between the two countries for the first time in 13 years and is expected to give momentum to further discussions. On February 26, Deputy Minister Lee will also meet with Saudi Arabia’s Assistant Minister of Energy for Electricity Affairs Nasser Al-Qahtani to discuss policy trends and bilateral cooperation regarding large-scale NPP projects, power grid expansions, and clean hydrogen. Saudi Arabia is diversifying its energy mix and transitioning to an energy system suitable for sustainable growth, creating considerable potential for collaboration with Korea over a wide range of energy sectors. “We will closely examine the policies adopted by countries to promote sustainable development and respond to climate change,” said Deputy Minister Lee. “We will also work to strengthen energy cooperation with Europe and the Middle East so that these efforts create new opportunities for Korean companies.” date2025-02-24

Korea-Czech Energy Technology Forum

Trade, Industry and Energy Vice Minister Namho Choe of the Republic of Korea attended the Korea-Czech Republic Energy Technology Forum held today in Seoul with the participation of the Czech Minister for Industry and Trade Lukáš Vlček, TACR Chairman Petr Konvalinka, and KETEP President Lee Seung-jae among roughly 150 attendees comprising both countries’ industry, academia, and research experts and government officials for discussions on measures for bilateral cooperation in energy technology. date2025-02-18

Korea and Czech Republic Advance Carbon-Free Energy Technology Cooperation at Joint Forum

On February 18, 2025, Vice Minister Choe Nam-ho of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) attended the Korea-Czech Republic Energy Technology Forum, which was co-hosted by MOTIE and the Czech Ministry of Industry and Trade and co-organized by the Korea Energy Technology Evaluation and Planning (KETEP) and the Technology Agency of the Czech Republic (TACR).  The Forum was brought together roughly 150 industry, academic, and research experts and government officials from both countries, including Czech Minister for Industry and Trade Lukáš Vlček, TACR Chairman Petr Konvalinka, and KETEP President Lee SeungJae, to discuss bilateral cooperation in energy technology. During the presentation session, Korean and Czech experts shared the latest technology trends and proposed future technology collaboration, focusing on power grids and energy storage systems (ESS), as well as carbon-free energy areas such as nuclear power and clean hydrogen. In the subsequent panel discussions and networking session, participants broadened their mutual understanding of various technology fields and explored potential joint projects. In his welcome address, Vice Minister Choe noted the Czech Republic’s status as the manufacturing powerhouse of Central Europe and highlighted that the two countries can could create meaningful opportunities in the transition to carbon neutrality by generating synergy between Korean and Czech businesses. He added that MOTIE will continue supporting joint research based on close bilateral cooperation to help create new business opportunities in the energy sector. MOTIE plans to further develop the cooperation measures discussed at today’s Forum through consultations with relevant Czech authorities in selecting new Korea-Czech projects for international joint research. date2025-02-18

Korea and Czech Republic Hold Second Supply Chain and Energy Dialogue (SCED)

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) held the second Supply Chain and Energy Dialogue (SCED) meeting with the Czech Minister for Industry and Trade Lukáš Vlček in Seoul on February 17, 2025. Launched in September 2024, the SCED is a Korea-Czech Republic cooperation channel aimed at strengthening bilateral strategic partnership and laying the foundation for comprehensive economic cooperation across trade, industry, and energy, including nuclear power. At the second meeting, the two sides reviewed progress in trade, investment, supply chains, advanced industries, carbon-free energy, and nuclear power and discussed in-depth discussions on future cooperative measures. In view of growing protectionism, both sides shared examples of response to supply chain disruptions and discussed measures to expand bilateral trade. In advanced industries, they discussed steps to establish cooperation centers in batteries, future mobility, and robotics and signed a memorandum of understanding (MOU) on semiconductor cooperation in R&D and workforce training.  Regarding carbon-free energy, the Korean delegation shared Korea’s energy efficiency policies for industrial, energy, and transport sectors, and both sides agreed to strengthen cooperation on clean hydrogen technology development. Noting Korea’s smooth progress in the nuclear reactor contract negotiations in accordance with the predetermined timeline and procedures, the two sides further discussed cooperation in joint R&D and workforce training. At the Korea-Czech Republic investment and business conference held on the sidelines of the SCED, businesses and institutions from the two countries signed a total of six MOUs. Minister Ahn expressed hope that the two countries would expand bilateral trade and investment and broader cooperation across advanced manufacturing, supply chains, and energy and other areas. In light of the two countries’ 35th anniversary of the establishment of diplomatic relations and the 10th anniversary of their bilateral strategic partnership, Minister Ahn called for the smooth conclusion of the final contract for the construction of new reactors in Dukovany and proposed taking bilateral relations to an entirely new level. date2025-02-17

CFE Global Working Group Launches Inaugural Meeting

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held the CFE Global Working Group meeting on February 7, 2025, via videoconference. Participants included delegations from the Czech Republic, Japan, United Arab Emirates (UAE), the International Energy Agency (IEA), and the Clean Energy Ministerial (CEM) Secretariat. Participants discussed the definition, standards, and technical criteria of carbon-free energy, as well as practical measures to widen global participation in the CFE Initiative, including the provision of incentives for participating businesses. MOTIE and the Carbon Free (CF) Alliance are leading the Carbon Free Energy (CFE) Initiative, which promotes the technology-neutral approach of utilizing various carbon-free energy sources such as renewables, nuclear energy, and clean hydrogen to facilitate industries’ cost-effective achievement of carbon neutrality. The CFE Initiative has won the support of a total of 13 countries, international organizations, and groups. During the meeting, CF Alliance Chairman Lee Hoe-sung stated that the CFE Global Working Group will lay the foundation for discourse regarding the definition and standards of carbon-free energy that can gain general acceptance in the international community. CEM Secretariat Head Jean-François Gagné welcomed the active discussions within the CFE Global Working Group, which currently functions as the CEM platform, and expressed hope that its work would help build a stronger cooperation base. Meanwhile, Korea, the Czech Republic, Japan, and the United Arab Emirates (UAE) agreed to deepen discussions for an early establishment of CFE implementation standards, while also stepping up cooperation to make progress at the CEM Ministerial meeting slated for August 25, 2025. date2025-02-10

MOTIE holds K-Grid Export Alliance kickoff meeting

Deputy Minister for Energy Policy Lee Ho-hyeon at the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea chaired the K-Grid Export Alliance kickoff meeting on February 4 at the Korea Trade Insurance Corporation (K-SURE) in Seoul to seek new opportunities for homegrown businesses in the global power infrastructure market and led discussions on the global grid market trends, forecast, and Korea’s strategic measures. The meeting was attended by representatives of 15 companies and institutions, including Korea Electric Power Corporation (KEPCO), Korea Southern Power Co., Hyundai E&C, LS Electric, and KEA.   date2025-02-06