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Korea and U.S. hold Clean Energy Business Roundtable 2023-11-17

The Republic of Korea and the United States hold the Clean Energy Business Roundtable

- Sharing public-private dialogue between Korea's Carbon-Free (CF) Alliance and the U.S.'s Clean Energy Demand Initiative (CEDI)

- Discussion on ways to utilize carbon-free energy and expand investment in clean power ensued

The Ministry of Trade, Industry, and Energy led by Minister Bang Moon Kyu and U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez led the "Korea-U.S. Clean Energy Business Roundtable" held on the sidelines of the APEC Leaders’ Summit on November 16th. Building upon the 70-year iron-clad alliance between the two nations, the Clean Energy Business Roundtable was arranged to discuss opportunities to strengthen and renew our mutually beneficial clean energy cooperation. Prominent business leaders from various sectors represented by the Clean Energy Buyers Association and Carbon-Free Alliance, such as IT, semiconductors, automobiles, batteries, steel, energy equipment, and energy supply, including Samsung Electronics, SK, LG Energy Solution, Hyundai Motor, POSCO, LS Electric, Microsoft, Google, Amazon, ExxonMobil, Korea Electric Power Corporation, and Electric Power Research Institute attended and explored collaborative means to achieve climate goals.

The participating companies from both nations acknowledged the importance of public-private cooperation and committed to providing a joint response between the governments and companies in achieving net zero emissions and responding to the pressing issue of climate change. The two countries' governments discussed respective measures that will promote the use of various clean energy sources and expand investment in clean power. Additionally, providing policy support was suggested.

Minister Bang underscored the importance of "mobilizing all policy efforts at hand, particularly in light of the need for a stable supply of large-scale power and the imperative need to achieve carbon neutrality among the global companies in attendance." He added that "the Carbon-Free Energy (CFE) Initiative of Korea and the U.S. Clean Energy Demand Initiative (CEDI) share a common vision of expanding clean electricity through the use of carbon-free energy". He expressed his optimism "for a mutually beneficial partnership between the two initiatives, starting with today's meeting. “

President Lee Hoesung of the Carbon-Free Alliance attended the meeting and emphasized "the urgent need for solidarity from the international community to overcome the climate crisis facing the world." He added that "improving the capacity to supply carbon-free energy from a technology-neutral perspective is crucial in achieving this goal."

The United States underscored the important role that the private sector can play in sending signals to government policymakers on corporate renewable energy demand and policy actions to expand clean electricity as a top priority for decarbonizing their operations.