Ministry of Trade, Industry and Energy

Minister Meets U.S. Secretary of Energy

Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan met with U.S. Secretary of Energy Chris Wright on July 23 (local time) in Washington, D.C. to discuss ways to strengthen bilateral cooperation in the energy sector. date2025-07-28

MOTIE and Hyundai Motor Group Sign MOU

Trade, Industry and Energy Vice Minister Lee Hohyeon attended the signing ceremony for a Memorandum of Understanding (MOU)  between the Ministry of Trade, Industry and Energy (MOTIE) and Hyundai Motor Group on July 22 at Hyundai Motorstudio Goyang in Gyeonggi Province. The event was organized to establish cooperation for providing eco-friendly vehicles, including hydrogen fuel cell electric vehicles (FCEVs) and electric vehicles (EVs), during Energy Super Week.  Before the ceremony, Vice Minister  Lee toured the exhibition space inside the studio. Through this MOU, MOTIE and Hyundai Motor Group will support the provision of eco-friendly vehicles for ministerial-level delegates, representatives, and international organizations participating in the APEC Energy Ministerial Meeting . Attendees included officials from MOTIE and Hyundai Motor Group, among them Dongwook Kim, Executive Vice President  of Hyundai Motor Company.  date2025-07-23

Korea and Cambodia Launch First Article 6.2 Climate Project

Korea has officially launched its first carbon mitigation project under Article 6.2 of the Paris Agreement, in partnership with the Kingdom of Cambodia. The landmark authorization — granted by the Cambodian government on July 18 and commemorated at an official ceremony on July 21 in Phnom Penh — marks a major milestone in Korea’s global climate action and bilateral cooperation efforts. The approved project, led by Korean private company VeryWords, aims to reduce greenhouse gas emissions in Cambodia’s transport sector through the deployment of electric motorcycles and the development of supporting charging infrastructure over a ten-year period (2025–2034).The project is expected to reduce 680,000 tCO2eq, of which 400,000 tons will be transferred to Korea and counted toward its Nationally Determined Contribution (NDC). “This is the first approved outcome of Korea’s investment support program, launched in 2023, which provides upfront financing to Korean companies and recovers the investment later in the form of carbon credits,” said a MOTIE representative.   Article 6.2 in Action: From Framework to Implementation   The Ministry of Environment of Cambodia issued a Letter of Authorization (LOA) under its national Article 6 governance framework, officially enabling the project to commence operations in accordance with Cambodia’s rules and procedures. The issuance of the LOA was made possible through the efforts of a working group comprising the Ministry of Trade, Industry and Energy (MOTIE) of Korea, the Ministry of Environment of Cambodia, and the Global Green Growth Institute (GGGI). On the Korean side, KOTRA and the Korea Energy Agency (KEA) participated as working group members. The group jointly reviewed key project elements — including the methodology, total emission reductions, and allocation ratios — which laid the foundation for the official authorization.   Advancing Structural Cooperation Through High-Level Dialogue   Building on this achievement, Korea and Cambodia are now working to expand cooperation beyond individual projects. On July 21–22, high-level bilateral meetings and an International Mitigation Forum were held in Phnom Penh to explore future collaboration in the transport sector. MOTIE held bilateral meetings with the Ministry of Public Works and Transport (MPWT) and the Ministry of Mines and Energy (MME) of Cambodia, with a focus on establishing government-to-government partnerships in the transport sector.  The forum also brought together key stakeholders from government, industry, and international organizations to discuss future mitigation projects and ways to align carbon market strategies. “This project reflects the growing maturity of bilateral cooperation under Article 6.2,” said the MOTIE official. “By aligning policy leadership from Cambodia with Korea’s technology and investment, we are laying the groundwork for scalable, long-term climate partnerships that go beyond individual projects.” date2025-07-21

MOTIE Holds Energy Super Week Briefing for Foreign Embassies in Korea

Korea’s Ministry of Trade, Industry and Energy (MOTIE) held a briefing for foreign embassies in Korea on the upcoming Energy Super Week (Aug. 25–29) today in Seoul outlining the event’s main programs and the newly elected administration’s energy policy directions, requesting the foreign embassies’ interest and support. The briefing was attended by 43 foreign embassies in Korea including those of Japan, the EU, the UK, and Vietnam. Four major events are lined up for Energy Super Week in Busan: the APEC Energy Ministerial Meeting (Aug. 27–28), 16th Clean Energy Ministerial (Aug. 25–27), 10th Mission Innovation (MI) Ministerial (Aug. 25–27), and 2025 World Climate Industry EXPO (Aug. 27–29). Energy ministers, government delegations, and business leaders of 40 member economies, as well as relevant international organizations, will be gathering to discuss future energy outlooks and solutions. The APEC Energy Ministerial Meeting will cover key agendas such as power grid infrastructure, energy security, stable power supply, and AI-powered energy innovation. At the 16th Clean Energy Ministerial and the 10th Mission Innovation Ministerial, participants will discuss issues like energy efficiency, power transition, future fuels (hydrogen), energy and AI, and carbon reduction technologies.  Near the end of August, MOTIE will co-host 2025 World Climate Industry EXPO with the International Energy Agency (IEA) and World Bank (WB) on the theme of “Energy for AI & AI for Energy,” featuring speakers like IEA Executive Director Fatih Birol and WB Vice President Manuela Ferro. The program consists of three major summits — the Global Leadership Summit, the Energy & AI Summit, and the Climate Summit — alongside 12 specialized conferences and sideline events, including recruitment sessions and trade consultations. Visitors can also experience the latest and future technologies in areas of climate and energy at various booths set up by Samsung, LG, Doosan Enerbility, Hanwha Qcells, and other global companies.   date2025-07-08

Trade Minister meets U.S. Interior Secretary Doug Burgum

Korea’s Minister for Trade Yeo Han-koo met U.S. Interior Secretary and National Energy Council Chair Doug Burgum on June 27 in Washington D.C. and discussed Korea-U.S. cooperation in energy areas including LNG. date2025-06-30

Minister Ahn holds talks with members of U.S. House Committee on Natural Resources

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met with members of the U.S. House Committee on Natural Resources on May 30 in Seoul to discuss measures for Korea-U.S. cooperation in energy and critical minerals. The U.S. delegation, led by Committee Chairman and U.S. Representative Bruce Westerman (R-AR), consisted of Representatives Nick Begich (R-AK), Harriet Hageman (R-WY), Celeste Maloy (R-UT), and Sarah Elfreth (D-MD). During the talks, Minister Ahn emphasized the need for Korea-U.S. energy cooperation and for stabilization across the critical minerals supply chain in light of increasing global energy demand and supply chain uncertainties. He also requested special concern towards preventing the recent tariff measures from negatively impacting the two countries’ close industrial and energy cooperation. Moreover, he proposed that the two sides engage in consultations on ways to strengthen bilateral energy cooperation in an effort to resolve issues of energy security and trade imbalance. With regard to the budget reconciliation bill that recently passed the U.S. House of Representatives, Minister Ahn underscored the need for policy continuity and support equivalent to the Inflation Reduction Act (IRA) tax credit incentives to ensure stability for Korean companies investing in the U.S. Furthermore, he asked for interest and support at the U.S. Congress-level in invigorating the two countries’ bilateral trade and investment.   date2025-05-30

Minister Ahn meets members of U.S. House Committee on Natural Resources

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met with members of the U.S. House Committee on Natural Resources on May 30 in Seoul to discuss measures for Korea-U.S. cooperation in energy and critical minerals. The U.S. delegation, led by Committee Chairman and U.S. Representative Bruce Westerman (R-AR), consisted of Representatives Nick Begich (R-AK), Harriet Hageman (R-WY), Celeste Maloy (R-UT), and Sarah Elfreth (D-MD). date2025-05-30

Korea opens hydrogen power bidding market for 2025

Korea’s Ministry of Trade, Industry and Energy announced that the hydrogen power bidding market for 2025 opens today. The hydrogen power bidding market is a system for purchasing and supplying electricity generated using hydrogen or hydrogen compounds as fuel. It is divided into clean hydrogen power and general hydrogen power categories, depending on the type of fuel used. Only power facilities using fuels that meet Korea’s clean hydrogen certification standard (greenhouse gas emissions of 4 kg CO₂e or less per 1 kg of hydrogen) are eligible to participate in the clean hydrogen power bidding market. The clean hydrogen power bidding market is aimed at reducing greenhouse gas emissions through power generation using carbon-free clean hydrogen. For 2025, the bidding volume is 3,000 GWh/year (equivalent to the annual electricity consumption of approximately 850,000 households), with a contract period of 15 years. Power generation must begin by 2029 after a three-year preparation period (with a one-year grace period in consideration of the program’s initial phase). Final bidders will be selected around November based on a comprehensive evaluation of both pricing and non-pricing factors, including bid price, clean hydrogen grade, fuel supply stability, and industrial and economic contribution. Notably, this year’s clean hydrogen power bidding market will introduce two new mechanisms that have been consistently requested by the industry: an exchange rate-linked settlement system and a hydrogen volume borrowing system. Until now, settlements in the clean hydrogen power bidding market were based on fixed prices in Korean won, placing the burden of won-U.S. dollar exchange rate fluctuations on project developers. Starting this year, however, power prices will be linked to the exchange rate at the time of settlement, which is expected to mitigate business risks associated with currency fluctuations. In addition, alongside the existing hydrogen volume carryover system (which allows unused volumes from the current year to be carried over to the following year), a new borrowing system has been introduced, enabling the use of the next year’s allocated hydrogen volume in advance. This improvement is expected to provide greater flexibility in responding to situations where fulfillment of the contracted generation volume is rendered difficult due to scheduled preventive maintenance and such circumstances. The general hydrogen power bidding market, aimed at promoting the deployment of decentralized power sources, will offer 1,300 GWh/year in bidding volume in 2025, with a 20-year contract period. Power generation must begin by 2027 after a two-year preparation period. Final bidders will be selected around August through a comprehensive evaluation of pricing and non-pricing factors, including power system impact and industrial and economic contribution. The bid announcement and more detailed information will be available on the hydrogen power bidding market website of Korea Power Exchange (kchps.kmos.kr) starting at 5:00 p.m. on May 9 (KST). date2025-05-09

Korea-Czech nuclear reactor cooperation arrangement

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn and Czech Minister of Industry and Trade Lukáš Vlček signed a Korea-Czech nuclear reactor cooperation arrangement on May 7 in Prague in the presence of Czech Prime Minister Fiala and both countries’ government delegations. date2025-05-09

Czech nuclear reactor project localization agreement ceremony

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn attended the Czech nuclear reactor project localization agreement ceremony on May 7 in Prague with Czech Minister of Industry and Trade Lukáš Vlček and other leaders of both countries' governments and businesses. date2025-05-09