Ministry of Trade, Industry and Energy

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

U.S. CEBA officially joins CFE Initiative

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that the Clean Energy Buyers Association (CEBA) officially declared its participation in the Carbon Free Energy (CFE) Initiative. CEBA is the largest U.S. organization representing clean energy customers, consisting of over 400 members including global tech giants like Apple, Microsoft, Amazon, and Google. On May 6 (local time) in Minnesota, U.S., the Carbon Free (CF) Alliance and CEBA entered a memorandum of understanding (MOU) for bilateral cooperation on the CFE Initiative. The MOU signing ceremony was held on the occasion of former IPCC chair and CF Alliance Chairman Hoesung Lee’s attending the CEBA Connect: 2025 Spring Summit, CEBA’s major annual event. With the signing of the MOU, CEBA will represent the U.S. private sector in participating in the CFE Global Working Group and joining the CF Alliance’s efforts to establish global CFE certification standards including the definition and scope of carbon-free energy as well as measures for verifying and certifying carbon credit. CEBA’s participation expands the CFE Global Working Group’s membership to seven, in addition to Korea, Japan, the United Arab Emirates (UAE), the Czech Republic, International Energy Agency (IEA), and the Clean Energy Ministerial (CEM). Based on this MOU, the CF Alliance and CEBA have agreed to closely cooperate across diverse areas with the aim of promoting the diffusion of carbon-free energy sources, through convening joint international conferences on an annual basis and engaging in technology and policy information exchanges. The CFE Initiative has so far gained the support of major countries and organizations such as Japan, the UK, France, and IEA. In October last year, it launched the CFE Global Working Group in which international public and private experts are currently taking part. A number of organizations like the United Nations (UN), IEA, and Asia-Pacific Economic Cooperation (APEC) have also expressed support, and consensus is growing across the international community on the need to harness various carbon-free energy sources. Companies at home and abroad are in support of the CFE Initiative as well, based on the grounds of it being relatively more inclusive, cost-effective, and technology-neutral compared to other similar initiatives. It is also considered more business-friendly with respect to scalability in developing countries and its recognition of Scope 1 emission reduction.   date2025-05-08

Minister Ahn attends AMCHAM Evolving Energy Forum

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn attended the AMCHAM Evolving Energy Forum on April 18 in Seoul held under the theme of “Opportunities in the Korea-U.S. Partnership” and gave a congratulatory address. date2025-04-21

Korea and Vietnam sign MOU for cooperation in power grids and new energy industries

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn and Vietnam’s Minister of Industry and Trade Nguyen Hong Dien led their government delegations in attending the MOU signing ceremony between Korea Electric Power Corporation (KEPCO) and Vietnam’s National Power Transmission Corporation (EVNNPT) for cooperation in power grids and new energy industries. date2025-04-14

Vice Minister attends Korea Pavilion opening ceremony at World Expo 2025 Osaka

Korea’s Trade, Industry and Energy Vice Minister Namho Choe attended the Korea Pavilion opening ceremony at World Expo 2025 Osaka on April 13 with the participation of Korea and Japan’s government delegations, related institutions, and business leaders including Korea Trade-Investment Promotion Agency (KOTRA) President Kang Kyung-sung and Commissioner General of the 2025 World Exposition in Japan Haneda Koji. date2025-04-14

Vice Minister meets IEA Deputy Executive Director

Korea’s Trade, Industry and Energy Vice Minister Namho Choe met International Energy Agency (IEA)'s Deputy Executive Director Mary Burce Warlick on April 10 in Seoul for discussions on changes in the global energy market and response measures. date2025-04-14