Ministry of Trade, Industry and Energy

Energy Vice Minister visits wintertime power supply-demand management site

Energy Vice Minister Park Ki-young visited Korea Electric Power Corporation (KEPCO)’s central power control center located in South Jeolla Province on January 11 to inspect wintertime power supply and demand management.    After being briefed on the winter season power supply and demand situation by Korea Power Exchange CEO Jung Dong Hee and Control Center Director Shim Hyun-bo, the Energy Minister delivered an encouraging message to employees on their hard work.   date2022-01-13

MOTIE holds public-private joint offshore wind power TF meeting

Trade, Industry and Energy 2nd Vice Minister Park Ki-young held a public-private joint offshore wind power TF meeting at the Korea Trade Insurance Corporation (K-sure) on January 6, 2022. The meeting aimed to gather and discuss solutions to challenges faced by domestic offshore wind power industry businesses. Vice Minister Park noted that “Korea’s large-scale offshore wind power projects are still in their early stage, so challenges are sure to surface,” and stressed the urgen date2022-01-12

Minister Moon attends retirement ceremony for Korea’s oldest coal-fired power plant

Trade, Industry and Energy Minister Moon Sungwook attended the retirement ceremony for Honam Thermal Power Plant, Korea’s oldest coal-fired power plant in Yeosu, on December 28. The Plant will be transformed into an eco-friendly power generation complex consisting of LNG combined cycle power plants and fuel cell power plants. Minister Moon expressed hope that the eco-friendly power generation complex would continue to contribute to the local economy and meet national electricity demand, an date2021-12-28

Minister Moon delivers congratulatory speech at nuclear industry’s commemoration event

The Ministry of trade, Industry and Energy co-organized a commemoration event for the nuclear industry with the Ministry of Science and ICT and the Nuclear Safety and Security Commission on December 23, to encourage the industry’s effort to provide safe nuclear energy amid the shift to carbon neutral energy. date2021-12-23

Korea announces 「Carbon Neutrality Vision and Strategy for Industry and Energy」

On December 10, Korea announced the ｢Carbon Neutrality Vision and Strategy for Industry and Energy｣, Korea’s first comprehensive strategy to achieve carbon neutrality in the industry and energy sectors which account for more than 70 percent of total carbon emissions. The government plans to phase out coal power generation by 2050 and achieve a carbon-free energy mix with renewables and hydrogen. To this end, the government vowed all-out support with tax, finance, and regulatory innova date2021-12-13

Minister Moon attends Hydrogen Economy Committee meeting

Trade, Industry and Energy Minister Moon Sungwook (right) attended the 4th Meeting of the Hydrogen Economy Committee presided by the Prime Minister Kim Boo-kyum, on November 26, and presented the Ministry’s implementation strategies to make Korea a first mover to build a hydrogen economy.   The government plans to supply 27.9 million tons of green/blue hydrogen in 2050, and expand the self-sufficiency rate of clean hydrogen to over 60 percent. date2021-11-26

MOTIE announces R&D strategy for carbon neutrality in industry, energy sectors

The Trade, Industry and Energy Ministry announced a plan to increase R&D investment for the goal of carbon neutrality at the second meeting of the “Carbon Neutral Industrial Transformation Committee”, on November 17, held at the Korea Chamber of Commerce and Industry.   The Ministry will increase the R&D investment for carbon neutrality from KRW 0.8 trillion to KRW 1.2 trillion (USD 1.0 billion) and spend 30 percent of the Ministry’s R&D budget toward carbon date2021-11-17

Korea, U.S. agree to launch cooperation platform for carbon neutrality targets

Trade, Industry and Energy Minister Moon Sungwook (right) met with United States Secretary of Energy Jennifer Granholm in Washington D.C. on November 10 (local time), and the two sides agreed to launch the Energy Policy Dialogue (EPD), a ministerial level talk aimed at strengthening partnership in the energy sector.   Through the EPD, the two countries will join efforts across three pillars – policies and planning, technologies and research, and commercialization and deployment &nda date2021-11-11

Korea, Chile vow to enhance hydrogen sector cooperation

Trade, Industry and Energy Vice Minister Park Kiyoung (left) met with Chilean Minister for Energy and Mining Juan Carlos Jobet in Seoul, on November 9, and the two countries signed a memorandum of understanding (MOU) aimed at expanding cooperation in the hydrogen sector, exchanging technologies and developing business opportunities.   It is expected that Chile’s renewable energy resources and Korea’s hydrogen utilization and distribution technologies combined together would en date2021-11-09

MOTIE, civic group join efforts for carbon neutrality

Trade, Industry and Energy Minister Moon Sungwook (center) met with the heads of the Korea NGO’s Energy Network on September 3, to discuss measures to induce public participation in climate action to achieve the 2050 carbon neutral goal.   Minister Moon stressed the role of civic groups in building a broad consensus among the public and encouraging people to take part in energy conservation. date2021-09-03