Ministry of Trade Industry and Resources

Korea Opens Global Research Center For New and Renewable Energy

Vice Minister for Trade and Energy Kim Junggwan cuts the ribbon at a ceremony to mark the opening of the Jeju Global Research Center on November 14. The new center will focus on new and renewable energy convergence technology. date2011-11-16

Korea, U.S. Embark on Clean Energy Partnership

Minister of Knowledge Economy Choi Joong-Kyung recently traveled to the United States to accompany President Lee Myung-bak on a state visit. While there, Minister Choi met with U.S. Secretary of Energy Steven Chu and signed an Implementing Arrangement establishing a clean energy research and technology partnership between the two countries. The deal defines a framework for practical research and development cooperation, leveraging Korea’s technological competitiveness as well as the U.S. side’s worldrenowned expertise in the energy sector. Now that it is in place, Korea and the United States will promote joint R&D projects and exchange information, personnel and equipment. The scope of bilateral cooperation will include energy efficiency, renewable energy, smart grid technology, green transportation, carbon capture and storage, and energy storage systems. “With this ground-breaking Arrangement, Korea and the United States have launched a new era of economic and industrial partnerships,” said Minister Choi. * Released by the Americas Division and the Energy Technology Division date2011-10-20

Korea Sets Emissions Reduction Targets for Businesses

* Released by the Energy Efficiency Policy Division date2011-10-13

Korea and Colombia Team Up on Energy

Colombia is a promising partner for Korea, with great potential on the strength of its stable economy and its abundant natural resources. With the “Look Asia Project,” the country seeks to diversify its oil export market and acquire Korea’s world-renowned technology and expertise. On the occasion of the Summit, Minister of Knowledge Economy Choi Joong-Kyung also signed a memorandum of understanding with his Colombian counterpart, Minister of Mines and Energy Carlos Enrique Rodado, establishing a comprehensive partnership between the two countries in the power sector. The power sector is an area in which Korea has global competitiveness, and the partnership will help Colombia better utilize its ample water resources to enter a new era of advanced power systems. * Released by the Americas Division date2011-09-20

Korea Goes Dark for Energy Day

August 17 was Korea’s eighth Energy Day. To mark the occasion, office buildings and apartment complexes across the nation went dark for five minutes beginning at 9 p.m. Air conditioners remained idle between 2 p.m. and 3 p.m. Similar measures in 2010 saved 750,000 kilowatt hours of energy—enough to power Jeju Island for nearly two hours. Seoulites gathered at City Hall Square for an educational exhibition, a songwriting contest, and a chance to set a new world record for generating the most energy by pedaling a bicycle. Political leaders and energy sector representatives pledged to make the nation more energy efficient, and the Ministry of Knowledge Economy announced the impressive progress of its energy conservation efforts. The promise of a 5 million won prize prompted 1.5 million households to use 2.01 percent less electricity in June 2011 compared with June 2010, the Ministry announced. Energy-intensive buildings, which were required to limit the use of air conditioning during the summer season, showed a 98 percent rate of compliance. Incheon International Airport was Korea’s top energy saver of 2010. The event showed that saving energy can be fun, and that everyone has a role to play in creating a greener Korea. * Released by the Energy Efficiency Policy Division date2011-08-19

Minister Welcomes Australian Energy Minister

date2011-08-02

Wind Farm Ushers In a New Era of Clean Energy

The new pilot wind farm sits on previously unused land within a thermal power plant site; the government chose the site with a view to prompt construction and more efficient operation of the turbines. Its goal is to establish a good track record for Korea’s budding wind power industry, which by 2015 is expected to become one of the country’s flagship industries along with semiconductors and shipbuilding. The government plans to build more turbines at Yeongheung to generate an additional 30 megawatts. It also plans to build more wind farms. Korea’s national plan for the development of the renewable energy industry, announced in October 2010, includes 10 projects to promote the wider dissemination of renewable energy equipment such as solar panels and wind turbines. The “Green Power” project will see renewable energy facilities installed within existing power companies and power stations. The global wind power industry has displayed steady growth, posting impressive annual rates of 20 to 30 percent. * Released by the New and Renewable Energy Division date2011-07-25

Korea and Gabon Take First Step Toward Energy Partnership

Officials from Gabon visited Seoul last week to discuss energy partnerships with their Korean counterparts. The first meeting of the Korea-Gabon Joint Committee on Energy and Mineral Resources Cooperation was a successful first step toward collaboration on oil and mineral development projects and the establishment of energy infrastructure in Gabon. Gabon plans to found a state-owned oil company, and Korea can provide useful information for this endeavor. Training programs and joint technology development were among the topics raised at the meeting. Furthermore, Korean companies have expressed a keen interest in joint projects involving mineral resources and rare metals and the establishment of a new refinery in Gabon. The Korean delegates requested support for Korean businesses in Gabon so that the two countries can make the most of these opportunities. Both sides expressed the desire to widen the scope of bilateral cooperation to include green growth and free economic zones. Ahead of the meeting, Minister of Knowledge Economy Choi Joong-Kyung met with Minister of Mining, Oil and Hydrocarbons Alexandre Barro Chambrier. * Released by the Emerging Economies Cooperation Division date2011-07-08

Energy Forum Reinforces Ties Between Korea, Indonesia

Vice Minister for Industrial Affairs and Global Industrial Cooperation Moon Jae-do traveled to Jakarta last week for the fourth Korea-Indonesia Energy Forum. The forum was an occasion to advance energy partnerships and explore new opportunities for cooperation. Vice Minister Moon pointed to energy and resources as a key sector in which stronger partnerships will significantly rev up the Indonesian economy. “Korea and Indonesia already have a very successful mineral resources and oil field partnership,” the Vice Minister said in his congratulatory speech. “Now it is time to build on what we have achieved, intensify ongoing cooperation, and strengthen our cooperative ties with future projects in mind.” Possible areas of cooperation include overseas oil and gas projects, the establishment of natural gas distribution networks, and the development of mines in Indonesia. Korea also wants to work with Indonesia to make its mining sector more eco-friendly and to increase the use of renewables, especially photovoltaic energy. Indonesia is one of Korea’s foremost energy partners, with ties that date back to 1979. After holding 22 consultations over nearly 30 years, in 2007 the two countries decided to establish an annual Energy Forum and engage in broader discussions. * Released by the Southeast Asia and Oceania Division date2011-07-07

Korea Appointed Secretariat of International Smart Grid Action Network

For the next three years Korea will serve as Secretariat of the International Smart Grid Action Network (ISGAN), a mechanism for multilateral collaboration involving 20 member countries. As interim Secretariat since November 2010, Korea took the lead in supporting ISGAN’s administrative processes and communications. Recently, representatives of member governments and the International Energy Agency gathered in Seoul to kick off the first official meeting. Italy was chosen as Chair, with the United States and Korea as Vice Chairs. The representatives also assessed ISGAN’s progress in four foundational projects: a global inventory of smart grid policies and activities; smart grid case studies; cost-benefit analyses and toolkits; and a synthesis of insights for decision makers. “Korea will take a central role in facilitating a dynamic exchange of information to ensure the achievement of the shared goal: to advance the development and deployment of smarter electric grids around the world,” Vice Minister for Trade and Energy Kim Junggwan said at a ceremony held to celebrate Korea’s new role. ISGAN was launched in July 2010 at the first Clean Energy Ministerial in Washington, D.C., and formally established under the IEA via an Implementing Agreement signed in April at the second Ministerial in Abu Dhabi. For further information, please see the press release dated April 21. * Released by the Smart Grid and Electricity Market Division date2011-06-23