- Minister Paik discusses energy cooperation with Japanese tech leader 2018-05-08
Trade, Industry and Energy Minister Paik Ungyu (third from left) discussed with SoftBank Group CEO Masayoshi Son (second from right) to seek energy cooperation during his visit to Tokyo, Japan, on May 8.
During the meeting, Minister Paik and CEO Son exchanged views on various topics, including cooperation on renewable energies, construction of a Northeast Asia supergrid, and response to the Fourth Industrial Revolution (4IR).
Minister Paik agreed with CEO Son about a significant decrease in the renewable energy supply cost over the last eight years and his forecast on its continuously accelerating trend. The Energy Minister added that 4IR technologies will rapidly resolve the cost and instability problems of renewable energies and energy storage devices.
Emphasizing Korea’s competitiveness in high-tech industries, such as semiconductors and autonomous vehicles, Minister Paik encouraged SoftBank to increase its investment in Korean companies.