Ministry of Trade, Industry and Energy
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Ministry announces 8th Basic Plan for Electricity Supply and Demand
The Ministry of Trade, Industry and Energy announced on December 14 a draft of the 8th Basic Plan for Long-term Electricity Supply and Demand. Under the new biennial plan, which reflects environmental and safety factors in addition to stable power supply and economic efficiency, Korea will produce more power from renewable energy sourc...
Minister Paik discusses energy ties with UK’s Energy Secretary
Trade, Industry and Energy Minister Paik Ungyu (right) posed for a photo with Secretary of State for Business, Energy and Industrial Strategy (BEIS) Greg Clark during his visit to London, United Kingdom, on November 27. During their meeting, Minister Paik and his counterpart Secretary Clark discussed ways of expanding cooperation in the nucle...
Minister Paik meets with IEA Executive Director
Trade, Industry and Energy Minister Paik (right) posed for a photo with International Energy Agency (IEA) Executive Director Fatih Birol during their meeting at the Korea Technology Center in Seoul on October 17. At the meeting, Minister Paik and Executive Director Birol exchanged their views on the global energy markets and changing market e...
Ministry to support nuclear reactor exports
The Ministry of Trade, Industry and Energy announced on October 10 that the Ministry will strongly support the domestic industries’ bid to export nuclear reactors. On October 10, Trade, Industry and Energy Minister Paik Ungyu presided a “nuclear export strategy consultative meeting” with industry representatives in d...
Minister Paik discusses exports of nuclear reactors with industries
Trade, Industry and Energy Minister Paik Ungyu (second from right) spoke at the “nuclear reactor export strategy consultative meeting” in downtown Seoul on October 10. Minister Paik presided the meeting with nuclear industry representatives and discussed the market environment for nuclear reactor exports, strategies for potential ...
Korea to host 2019 International Renewable Energy Conference
The Ministry of Trade, Industry and Energy (MOTIE) announced on September 15 that Korea won the bid to host the 2019 International Renewable Energy Conference (IREC). During the 2017 IREC in Mexico, the steering committee of REN21 (Renewable Energy Policy Network for the 21st Century) chose Korea as the next host over strong competitors for ...
Vice Minister Lee hosts 1st consultative meeting on renewable energy policies
Trade, Industry and Energy Vice Minister Lee Inho (third from left) spoke at the first consultation meeting on renewable energy policies in a hotel in downtown Seoul on August 24. The meeting was designed to bring together municipal governments, civic groups, industries, and academics to cooperate on the government’s goal to boost the p...
Kori Unit 1, Korea’s first nuclear reactor, ceases operations
President Moon Jae-in (center) delivered a speech at the ceremony to announce the retirement of Kori Unit 1, Korea’s first nuclear reactor, in front of the Kori Nuclear Power Plant, Gijang-gun, Busan, on June 19. President Moon said the end of Kori Unit 1’s operation is the first step on Korea’s path to reduced d...
Gov’t to expand discount on electricity bills linked to renewable energy consumption
The Ministry of Trade, Industry and Energy announced on March 29 that discounts on electricity bills for renewable energy user-producers will be expanded. The new amount of the discounts will equate to the value of up to 75 percent of renewable electricity generated and consumed. Under the current special rules to promote renewable energy, i...
Minister Joo attends launch of electric vehicle charging station in heart of Seoul
Trade, Industry and Energy Minister Joo Hyunghwan (left) checked out an electric vehicle charging equipment displayed in Yongsan Station in central Seoul, on February 9, during his visit to the station for the opening ceremony of the flagship downtown electric vehicle (EV) charging facility. The EV recharging station with 21 chargers is locat...