-
Energy
Minister meets Kyrgyz Energy Minister
Trade, Industry and Energy Minister Dukgeun Ahn met with Kyrgyz Energy Minister Taalaibek Ibraev on May 10 in Seoul and discussed renewable energy, energy efficiency and the Korea-Kyrgyzstan memorandum of understanding (MOU) on energy cooperation. date2024-05-10
-
Energy
Korea and Kyrgyzstan discuss cooperation in renewable energy
Trade, Industry and Energy Minister Dukgeun Ahn met with Kyrgyz Energy Minister Taalaibek Ibraev on May 10 in Seoul and discussed renewable energy, energy efficiency and the Korea-Kyrgyzstan memorandum of understanding (MOU) on energy cooperation. Minister Ahn introduced the Korean government’s efforts for distributing renewable energy like solar and wind power and asked for the Kyrgyz government’s support towards Korean firms' participation in Kyrgyzstan’s renewable energy projects in the future. Moreover, as both countries are pushing policies for energy efficiency in view of climate crisis response and stronger energy security, the two sides agreed to cooperate in promoting bilateral people-to-people and technology exchanges. Lastly, Minister Ahn invited Kyrgyzstan’s active support and participation in the upcoming World Climate Industry Expo (WCE) 2024 slated for September in Busan. date2024-05-10
-
Energy
Minister attends Incheon Liquefied Hydrogen Plant completion ceremony
Trade, Industry and Energy Minister Dukgeun Ahn attended the completion ceremony of the world's largest liquefied hydrogen plant on May 8 in Seo-gu, Incheon, built by SK E&S. Minister Ahn gave a congratulatory message, stating that the liquefied hydrogen plant will be Korea’s new gamechanger for the hydrogen economy, and is an exemplary case of the joint efforts of the Government’s deregulatory measures and private investment. The event was attended by representatives of relevant institutions, companies, and associations, including the Trade, Industry, Energy, SMEs and Startups Committee, SK E&S, Korea Development Bank (KDB), and the mayor of Incheon. date2024-05-09
-
Energy
World's largest liquefied hydrogen plant starts operation in Incheon
Trade, Industry and Energy Minister Dukgeun Ahn attended the Incheon Liquefied Hydrogen Plant completion ceremony on May 8 in Seo-gu, Incheon. The world’s largest in scale, the Incheon Liquefied Hydrogen Plant is a KRW 700 billion won project by SK E&S for producing 30,000 metric tons of liquid hydrogen per annum at maximum capacity, which is equivalent to the amount for charging 5,000 hydrogen buses. Centering around the completed plant, SK E&S plans to build a total of 40 liquid hydrogen charging stations nationwide by 2026 to create a liquid hydrogen distribution network, beginning with 20 stations this year. Taking up only 1/800th the volume of hydrogen gas, liquified hydrogen heightens transport efficiency 10-fold and is anticipated to catalyze the diffusion of hydrogen-powered mobility, such as hydrogen cars and buses. As hydrogen reaches an ultrapure level of around 99.9999 percent during liquefaction, it can also be used in advanced industries that require large amounts of ultrapure hydrogen, including semiconductors and defense. The Korean government has been providing swift support for related licensing through a regulatory sandbox for special exemption of demonstrations, and will continue to further the nurturing of the hydrogen liquefaction ecosystem by supporting the securing of relevant key technologies, R&D of related materials, parts, and equipment, as well as the development of safety standards across the entire liquid hydrogen life cycle. date2024-05-09
-
Energy
Minister holds meeting for stabilizing domestic oil prices
Trade, Industry and Energy Minister Dukgeun Ahn convened a meeting on May 3 to discuss measures for stabilizing domestic oil prices amid rising Middle East tensions and uncertainties in the petroleum market, and inspected recent supply prices of refineries and sale prices at gas stations. The meeting was attended by with representatives of related companies and organizations, including SK Energy, HD Hyundai Oil Bank, S-OIL, GS Caltex, Korea National Oil Corporation (KNOC) and the Korea Petroleum Association (KPA). date2024-05-07
-
Energy
Minister attends “Green Building Conference for Climate Crisis Response”
Trade, Industry and Energy Minister Dukgeun Ahn attended the “Green Building Conference for Climate Crisis Response” on May 2 at the Seoul City Hall to give a congratulatory message and co-signed the memorandum of understanding (MOU) for reducing greenhouse gas (GHG) emissions of buildings with Seoul Mayor Oh Se-hoon, Land, Infrastructure and Transport Minister Park Sang-woo, and Co-Chairperson of the Presidential Commission on Carbon Neutrality and Green Growth Kim Sang-hyup. date2024-05-03
-
Energy
Korea to expand application of self-reporting and grading of buildings' energy efficiency
Trade, Industry and Energy Minister Dukgeun Ahn attended the “Green Building Conference for Climate Crisis Response” on May 2 at the Seoul City Hall to give a congratulatory message and co-signed the memorandum of understanding (MOU) for reducing greenhouse gas (GHG) emissions of buildings with Seoul Mayor Oh Se-hoon, Land, Infrastructure and Transport Minister Park Sang-woo, and Co-Chairperson of the Presidential Commission on Carbon Neutrality and Green Growth Kim Sang-hyup. This February, MOTIE started enforcing the energy intensity target management system on buildings to manage their energy use, which sets an energy use target per unit area for medium- and large-sized, non-residential buildings with a total area of 5,000 square meters or larger, and applies a five-tiered target efficiency achievement grading method (A–E). Based on the above system, Seoul City announced its “Climate Building Project” for reducing GHG emissions. According to the project, Seoul City will disclose the energy use target grades of the approximately 500 buildings it owns (May 2), which will then be extended to the 1,800 public buildings and self-governing districts’ buildings. The MOU signing ceremony was followed by a conference on existing buildings’ green transition, where experts of related academic fields and research institutes gathered to announce carbon neutrality achievement strategies for buildings. In his congratulatory message, Minister Dukgeun noted that Korea’s total energy use declined by 3.2 percent in 2023, but that of commercial and public buildings rather increased, stating that MOTIE intends to expand the application of the energy use self-reporting and grading system with aim to enhance energy efficiency of buildings, beginning with public institutions. He added that stronger support will go towards assisting R&D projects for energy efficiency improvement and small business owners’ energy saving equipment and electrical power fees, while tightening inspections on stores leaving doors open during air-conditioning. date2024-05-02
-
Energy
Anchor project for carbon neutrality forecast to annually reduce 70,000 tCO2eq of GHG
The Ministry of Trade, Industry and Energy (MOTIE) announced on April 30 that three more companies have been added to the list of SMEs and middle-market firms leading in the area of carbon neutrality, raising their total number to 12. These 12 companies are forecast to reduce an estimated annual 70,000 tCO2eq of greenhouse gases (GHGs) through a KRW 67.8 billion investment in new facility and equipment. For firms in carbon-intensive industries making leading efforts to reduce GHG emissions, the Korean government is providing support in terms of state funding up to 40 percent (maximum of 3 billion won over two years) of the expenses needed to make improvements in processes, equipment replacement, and facility expansion. On April 30, MOTIE held a performance exchange meeting at AJU Steel’s Gimcheon Plant, a firm that is currently replacing its equipment with low emissions systems and equipment, along with the 12 companies selected for anchor projects in plant establishment support for carbon neutrality. Prior to the exchange meeting, attendees were able to experience firsthand the application technologies for carbon neutrality AJU Steel is introducing to its production site, such as automation systems for process optimization and convergence systems for plating and coating. At the meeting, five firms that completed establishing their respective low-carbon systems shared emissions reduction outcomes and business knowhow to other firms. These twelve companies’ outcomes will be updated via reports and videos through the Korea National Cleaner Production Center (KNCPC) YouTube channel and website (www.kncpc.or.kr). Moreover, the World Climate Industry EXPO slated for September this year in Busan will also promote the content to other companies, experts, and general public. date2024-05-02
-
Energy
Minister meets Saudi Energy Minister
Trade, Industry and Energy Minister Dukgeun Ahn met with Saudi energy minister Abdulaziz bin Salman on April 28 (local time) in Riyadh on the occasion of attending the World Economic Forum (WEF)’s Special Meeting on Global Collaboration, Growth and Energy for Development and discussed bilateral energy cooperation. date2024-04-30
-
Energy
Trade Minister meets SCA Chairman
Minister for Trade Inkyo Cheong met Egypt’s Suez Canal Authority (SCA) Chairman and Managing Director Osama Rabie on April 25 at the Lotte Hotel Seoul and discussed measures for strengthening bilateral cooperation in offshore logistics and Egypt’s “Green Canal 2030.” date2024-04-26