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Energy
Vice Minister hosts CFE Roundtable
Trade, Industry and Energy Vice Minister Namho Choe held the Carbon-Free Energy (CFE) Roundtable on February 13 in Paris on the occasion of attending the International Energy Agency Ministerial Meeting from February 13-14 to share views on the Carbon-Free Energy (CFE) Initiative with representatives of seven countries (Canada, Japan, the Netherlands, UK, etc.) and IEA and discussed measures on international cooperation for diffusing the utilization of carbon-free energy sources. date2024-02-14
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Energy
Vice Minister meets with Swedish Deputy Prime Minister and Minister for Energy, Business and Industry
Trade, Industry and Energy Vice Minister Namho Choe met with Ebba Busch, Swedish Deputy Prime Minister and Minister for Energy, Business and Industry, on February 13 in Paris on the sidelines of the IEA Ministerial Meeting and discussed measures for carbon-free energy cooperation. date2024-02-14
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Energy
Carbon Free Energy Initiative Roundtable Meeting in the IEA Ministerial Meeting
Joint Press Release February 13, 2024 Carbon Free Energy Initiative Roundtable Meeting in the IEA Ministerial Meeting Several countries and institutions including Canada, Japan, Kingdom of the Netherlands, Republic of Korea (ROK), United Kingdom, and International Energy Agency (IEA) attended the Carbon Free Energy Initiative Roundtable Meeting in Paris on February 13, held on the sidelines of the IEA Ministerial Meeting, hosted by the ROK. Namho CHOE, Vice Minister of Trade, Industry and Energy, ROK and Hoesung LEE, President of Carbon Free Alliance led the roundtable meeting. Recalling the decision made at the 28th Session of the Conference of Parties (COP28) to the UNFCCC to accelerate zero- and low-emission technologies, including renewables, nuclear, abatement and removal technologies such as carbon capture and utilization and storage (CCUS), particularly in hard-to-abate sectors, and low-carbon hydrogen production, the participants shared their views on possible cooperation on carbon free energy to achieve a global goal of carbon neutrality. The participants also recognized the Carbon Free Energy (CFE) Initiative which was proposed by the ROK on the margins of the United Nations General Assembly in September 2023. The Initiative highlighted the importance of utilizing various carbon free energy sources available, in light of different national circumstances. The participants also acknowledged the importance of active private sector engagement and underscored the imperative to drive demand-side cooperation between the public and private sectors. The ROK shared its idea of launching the CFE Initiative Global Working Group to establish a CFE Program which includes developing internationally recognized criteria for carbon-free energy and establishing a global certification scheme. The ROK also proposed participants to actively consider joining the global working group with a view to strengthening the cooperation among like-minded countries. The participants welcomed ROK’s engagement and looked forward to further discussion. date2024-02-14
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Energy
Minister Ahn meets with Australia's Minister for Resources and Northern Australia
Trade, Industry and Energy Minister Dukgeun Ahn met with Madeleine King, Australia’s Minister for Resources and Minister for Northern Australia, on February 2 in Seoul to discuss bilateral cooperation measures in energy and resources areas, including critical minerals, carbon capture and storage (CCS) and natural gas, as well as issues faced by Korean companies in relation with Australia’s energy regulations. date2024-02-05
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Energy
Korea and Australia discuss cooperation in critical minerals, natural gas and CCS
Trade, Industry and Energy Minister Dukgeun Ahn met with Madeleine King, Australia’s Minister for Resources and Minister for Northern Australia, on February 2 in Seoul to discuss bilateral cooperation measures in energy and resources areas, including critical minerals, carbon capture and storage (CCS) and natural gas, as well as issues faced by Korean companies in relation with Australia’s energy regulations. Both countries shared the need to diversify the supply chain and reduce reliance on other countries for critical minerals and agreed to make further effort to expand their scope of cooperation from upstream areas like exploration, development and production to downstream areas like refining, smelting and processing. Next, the two ministers agreed to promptly proceed with procedures necessary for the Korea-Australia CO2 transport agreement to smoothly implement the CCS investment project for transporting the CO2 captured in Korea for permanent storage in Australia’s depleted gas reservoirs. Minister Ahn conveyed the concerns expressed by Korean firms regarding the extension of the Australian Domestic Gas Security Mechanism (ADGSM) to 2030 and asked for clarification of the Australian safeguard mechanism standards of carbon emission reduction duties on greenhouse gas emissions-intensive facilities. date2024-02-05
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Energy
Minister Ahn attends Emergency Economy Ministerial Meeting
The Ministry of Trade, Industry and Energy (MOTIE) announced on February 8 during the Emergency Economy Ministerial Meeting the measures for hands-on regulatory innovation to nurture Korea into a global hydrogen powerhouse. Minister Dukgeun Ahn stated that “for accelerating the clean hydrogen economy and nurturing the hydrogen industry as a new sector, it is of the utmost importance to promptly lay down the safety standards,” and added that MOTIE will continue to uncover and tackle challenges that companies face on site. The meeting was chaired by Deputy Prime Minister Choi Sang-mok and attended by officials from the Ministry of Agriculture, Food and Rural Affairs (MAFRA), Ministry of Culture, Sports and Tourism (MCST) and other relevant ministries. date2024-02-02
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Energy
MOTIE to push regulatory innovation to nurture Korea into global hydrogen powerhouse
The Ministry of Trade, Industry and Energy (MOTIE) announced on February 8 during the Emergency Economy Ministerial Meeting the measures for hands-on regulatory innovation to nurture Korea into a global hydrogen powerhouse. In the recent rapid development of the global electrolysis market and Korea’s prowess in clean hydrogen, the Government is making effort to speedily respond to these changes by uncovering five key areas, including production, distribution and utilization, for regulatory improvement to be spearheaded by the public-private joint consultative group for hydrogen industry regulatory innovation. Regarding 49 project tasks for regulatory improvement uncovered through site inspections and business conferences, MOTIE plans to work together with relevant ministries for immediate improvement on 25; for 13 of the remaining, MOTIE will review and decide through demonstrations. It is anticipated that the regulatory innovation measures will not only help companies build global competitiveness in areas like electrolysis and liquid hydrogen but also contribute to the timely establishment of infrastructure for Korea’s clean hydrogen ecosystem scheduled for activation in 2027. Meanwhile, Korea Gas Safety Corporation and civil experts will be actively engaging throughout the entire innovation process to lay out safety standards and legal modifications that cater to the public’s awareness and understanding. Minister Dukgeun Ahn stated that “for accelerating the clean hydrogen economy and nurturing the hydrogen industry as a new sector, it is of the utmost importance to promptly lay down the safety standards,” and added that MOTIE will continue to uncover and tackle challenges that companies face on site. date2024-02-02
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Energy
Korea becomes 9th country in the world to produce liquid hydrogen
The Ministry of Trade, Industry and Energy (MOTIE) held the completion ceremony for Korea’s first commercial-scale liquid hydrogen production plant on January 31 at Doosan Enerbility’s Changwon Plant. The Changwon Plant was established through a joint investment by Doosan Enerbility, Gyeongnam Province and Changwon, and is capable of supplying up to 1,825 metric tons every year to nearby research institutes, companies and hydrogen charging stations. Liquid hydrogen is gaining attention as a core means of accelerating the commercialization of fuel-cell electric vehicles and large-scale transport of hydrogen, thanks to its ten-fold transport efficiency. Considering the absence of safety standards due to unprecedented domestic use, the Government is providing active support through a regulatory sandbox by granting special exemption for demonstrations concerning the localization of materials and equipment parts as well as the establishment of a liquid hydrogen plant. Homegrown technology was incorporated in building the Changwon liquid hydrogen plant transport and storage facility, and a liquid hydrogen trailer developed by another domestic company will be co-operated with the plant. On the sidelines of the completion ceremony, a memorandum of understanding (MOU) was signed between local governments, companies and Government-funded institutions for the construction of a liquid hydrogen charging station, the utilization and supply of hydrogen buses, and supply and purchasing of liquid hydrogen. In his congratulatory message, Director General for Hydrogen Economy Policy Park Chan-ki stated that “with the completion of the Changwon liquid hydrogen plant, Korea is now the world’s ninth producer of hydrogen,” and added that “the Government will make effort to invigorate the liquid hydrogen ecosystem through localization of core technologies, modification of laws, regulatory improvement and diversification of demand.” date2024-01-31
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Energy
Vice Minister Kang holds press briefing on CFE Initiative
Trade, Industry and Energy Vice Minister Kang Kyungsung held a press briefing on the Carbon-Free Energy (CFE) Initiative and future plans on January 29 at the Government Complex Sejong and led the following Q&A session. date2024-01-30
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Energy
CF Alliance to push the use of all carbon-free energy sources for carbon neutrality
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 29 that Dr. Hoesung Lee, former Chair of the Intergovernmental Panel on Climate Change (IPCC) and incumbent Carbon Free (CF) Alliance Chairman, led a press briefing and conference to introduce the outcomes gained from over the last three months since the launch of the CF Alliance in October last year, which include a score of bilateral and multilateral exchanges, as well as support towards the Carbon-Free Energy (CFE) Initia date2024-01-29