Ministry of Trade, Industry and Energy

Minister Ahn chairs 35th Energy Commission

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea chaired the 35th Energy Commission meeting on March 14 in Seoul for deliberation on the Government’s plans regarding energy supply and demand during emergencies, gas safety management, and electrical safety management. date2025-03-17

Korean government holds 35th Energy Commission meeting

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held the 35th Energy Commission meeting today for deliberation on the Government’s plans regarding energy supply and demand during emergencies, gas safety management, and electrical safety management. The Korean government has been preparing response measures against national energy emergencies by establishing the Energy Supply and Demand Plan for Emergencies under the Energy Act. In light of the rapidly changing energy supply and demand landscape due to Korea’s shifting energy mix, geopolitical uncertainties like the Russia-Ukraine war, and climate anomalies, the Government has laid out response measures to various possible emergency scenarios. The distinguished feature of the most recently established Energy Supply and Demand Plan for Emergencies is its adjustment of the nation’s energy mix set previously comprising electrical power, crude oil, gas, and coal to electrical power, crude oil, gas, and thermal power amid the declining demand for coal and rising use of thermal energy. The plan expands the scope of power emergency management to cover not only supply and demand but the electrical power system as well, in view of increased use of renewable energy and ensuing power system volatility. Since 2015, the Government has been renewing the Basic Plan for Gas Safety Management every five years on account of the flammability and explosion risks of gas. The recently established third Basic Plan for Gas Safety Management differs from the previous version in that it contains safety standards for new hydrogen technologies and related infrastructure expansion measures in response to Korea’s growing hydrogen economy. Moreover, in view of the increasing number of old gas facilities, the Government will push the transition to a digital-based constant safety management system through a more active deployment of information technology while also reinforcing private sectors’ safety management. Korea’s electrical power consumption is on an upward trend owing to datacenters and such power-intensive facilities, and the complexity and scale of electrical power accidents and damages are growing as well. Accordingly, the Government established the first Electrical Safety Management Basic Plan this year, outlining measures for enhanced safety management that cater to the more vulnerable targets including multipurpose facilities, industrial complexes, and socially disadvantaged groups. The plan further aims to promote flexible and field-oriented electrical safety management methods, the innovation of safety management based on cutting-edge technologies, and the nurturing of private-led safety management efforts in developing the electrical safety industry. Minister Ahn stated that the Government will continually strive to innovate the safety management system in step with various changes such as the growth of the hydrogen economy and advanced industries’ increased power demand to accommodate the safe energy consumption of Korean citizens.   date2025-03-14

Korea and Mongolia bolster full life cycle cooperation for rare metals

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the second Korea-Mongolia Rare Metals Cooperation Joint Committee (“Committee”) meeting today in Seoul to boost bilateral cooperation for rare metals supply chains. The Committee is a follow-up to the signing of a memorandum of understanding (MOU) on rare metals supply chain cooperation forged during the Mongolian prime minister's visit to Korea in February 2023. Deputy Minister for Energy Policy Lee Ho-hyeon and Mongolia’s State Secretary of the Ministry of Industry and Mineral Resources Javkhlanbaatar Sereeter led their respective delegations in today’s meeting to discuss various measures for rare metals cooperation with the participation of both countries’ relevant ministries and institutions. By this November, the two countries are looking forward to completing the establishment of materials and equipment for the Korea-Mongolia Rare Metals Cooperation Center, which will serve to support Korean firms’ rare metals technology development as an outpost for entry into Mongolia’s mineral development projects.  Through joint exploration between the Korea Institute of Geoscience and Mineral Resources (KIGAM) and Mongolia’s Geological Center for Research and Analysis (GCRA), efforts will be made to identify rare metal reserves in Mongolia and conduct demonstrations of Korean companies’ exploration technologies. The Korea Institute of Energy Technology Evaluation and Planning (KETEP) plans to launch an R&D project to expedite Mongolia’s tin mining development and contribute to Korea’s supply chains through the application of smart mining technologies suitable for Mongolian sites and the securing of beneficiation pilot plant technologies. Going forward, Korea and Mongolia will be engaging in joint efforts spanning the entire life cycle from exploration to development centering on economically feasible rare metals with aim to stabilize Korea’s supply chains and spur the development of Mongolia’s mineral resources.   date2025-03-12

Korea and Japan launch Mineral Resources Cooperation Dialogue

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea and Japan's Ministry of Economy, Trade and Industry (METI) held the first Korea-Japan Mineral Resources Cooperation Dialogue today in Tokyo to launch forward the two countries’ active cooperation in stabilizing the critical minerals supply chains essential for the development of advanced industries. At today’s meeting, MOTIE’s Director General for Resources Industry Policy Yoon Chang-hyun and METI’s Deputy Director-General for Manufacturing Industries Hideyuki Urata engaged in discussions on the two countries’ critical minerals policies, critical minerals stockpiling cooperation, and measures for joint production in third countries. First, in view of Korea and Japan’s similarities with respect to both operating their critical minerals stockpile systems from an economic security standpoint, the two sides agreed to establish a system for close cooperation for responding to global critical minerals supply chain risks. They also agreed to boost cooperation in the joint development and production of critical minerals in third countries to decrease supply chain risks by supporting the collaboration between their private-sector businesses and relevant institutions. Moreover, both sides will be making effort to establish critical minerals related global norms and stabilize supply chains based on stronger joint policy efforts through the Mineral Security Partnership (MSP) and the International Energy Agency (IEA), while also seeking joint strategies for responding to global supply chain risks. As Korea and Japan are major critical minerals importers that share homogeneous industrial structures with competitiveness in cutting-edge industries like semiconductors and batteries, the two countries are anticipating considerable synergy from their collaboration in critical minerals supply chains. They plan to keep expanding their scope of strategic cooperation in the future through the Korea-Japan Mineral Resources Cooperation Dialogue and other channels in order to effectively respond to global supply chain crises.   date2025-02-27

Korea and Australia to widen business cooperation in climate, energy, and supply chains

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the Korea-Australia Green Economy Partnership Arrangement (EPA) Business Forum (“Forum”) today in Seoul as follow-up to the bilateral Green EPA signed between the two countries’ relevant ministries in December 2024.  Held under the aim of expanding business cooperation in climate, energy, and supply chain areas, today’s Forum seeks to create tangible joint business opportunities in clean hydrogen, CCUS (carbon capture, utilization, and storage), and critical minerals. The Forum is significant in that it brings together both countries’ major companies to take stock of cooperation progress in clean energy areas, establishing a basis for wider and more concrete collaboration in the future. In view of Korea and Australia serving as central links in the Asia-Pacific region’s clean hydrogen supply chain, the two sides sought joint measures to establish a stable hydrogen supply chain system and reviewed prospects for joint participation in global CCUS projects through the carbon dioxide (CO2) cross-border transport and storage cooperation system developed under the Green EPA. They also discussed measures to promote joint research on ways to diversify critical minerals supply chains and to increase joint investments in clean energy technology development. Korea’s Minister for Trade Inkyo Cheong expressed anticipation for both countries to generate meaningful outcomes on this occasion in the global clean energy market by capitalizing on the synergy between Korea’s clean energy technology and Australia’s abundance in resources.  Australian Ambassador to the Republic of Korea Jeff Robinson highlighted that the bilateral Green EPA will help the two countries catalyze energy transitions, strengthen supply chains, and boost economic opportunities. On the margins of today’s Forum, MOTIE plans to continue supporting homegrown companies in their effort to take part in global clean energy projects and 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 boost nuclear energy cooperation

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. Korea’s biggest trading and investment partner among ASEAN members and third largest trading partner in the world following China and the U.S., Vietnam 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, as Vietnam is recently gearing up to resume its nuclear energy development.  During the meeting, the Vietnamese delegation introduced its nuclear policy trends and proposed that the two countries expand their bilateral nuclear energy cooperation, to which the Korean delegation suggested that the two countries 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 recent uncertainties in the trade landscape, both sides agreed to closely communicate and work together to mitigate business challenges Korean companies experience in the local Vietnamese market and to swiftly finalize negotiations on upgrading the Korea-Vietnam Free Trade Agreement (FTA) for customs convenience. They also decided to bolster cooperation in supply chains through the critical minerals supply chain technology cooperation center project to be launched this year.   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) of the Republic of Korea is visiting the Republic of Türkiye and Saudi Arabia through February 24–27 for high-level intergovernmental talks on bilateral energy cooperation in areas like nuclear reactors, 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 the two countries’ various energy agendas such as nuclear power and clean energy. Under an aim to secure stable energy supply, Türkiye is seeking to build a 20GW nuclear reactor by 2050. In addition to executing the Akkuyu nuclear power plant (NPP) project launched in 2010, the Turkish Ministry of Energy and Natural Resources is currently on the lookout for a project contractor for nuclear new builds in the Sinop and Thrace regions. As the first intergovernmental nuclear energy dialogue in 13 years between the two countries, today’s high-level meeting is expected to spur related discussions going forward. On the 26th, Deputy Minister Lee will also be meeting with Saudi Arabia’s Assistant Minister of Energy for Electricity Affairs Nasser Al-Qahtani to share policy trends and bilateral cooperation measures regarding large-scale NPP projects, power grid expansions, and clean hydrogen. Saudi Arabia is in the process of diversifying its power mix and transitioning to a system suitable for sustainable growth, leading to anticipation of considerable potential for collaboration with Korea over a wide range of energy areas.   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