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Energy
Minister Ahn meets Deputy Secretary of U.S. Department of Energy
Trade, Industry and Energy Minister Dukgeun Ahn met with Deputy Secretary of the U.S. Department of Energy David M. Turk on June 25 in Washington D.C. on the margins of the first Korea-U.S.-Japan trilateral industrial ministerial and discussed measures for stronger Korea-U.S. energy cooperation. date2024-06-26
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Energy
Connecting efforts for GHG mitigation, Global Net Zero Connection 2024 launches in Seoul
The Ministry of Trade, Industry and Energy (MOTIE) is hosting Global Net Zero Connection 2024 from June 24–25 in Seoul for discussing measures on reducing greenhouse gas (GHG) emissions with Cambodia, Bangladesh, Lao PDR, Kenya, Ghana, Sri Lanka, and Uzbekistan. Launched to accelerate GHG mitigation efforts worldwide, Global Net Zero Connection 2024 will be running a policy forum, one-on-one business meetings, and intergovernmental bilateral talks with the participation of 60 domestic and overseas companies and the above seven countries’ government institutions. In his opening address, Minister for Trade Inkyo Cheong emphasized the need for strengthening cooperation and uncovering joint projects in achieving the global goal of GHG mitigation and vowed support for partner countries’ efforts to establish relevant laws and nurture related capacity. On the margins of the event, MOTIE will enter memorandums of understanding (MOUs) on GHG reduction cooperation with the Cambodian Ministry of Environment and Bangladeshi Ministry of Environment, Forest and Climate Change, following its MOUs with Vietnam and Indonesia sealed in June of 2023 and 2024, respectively. The MOUs focus on uncovering joint GHG reduction projects and developing procedures and standards for transferring mitigation outcomes. At present, MOTIE is running four demonstration projects on international GHG mitigation and plans to support additional demonstration projects and feasibility study projects. date2024-06-24
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Energy
MOTIE and KORAD call for site proposals for underground high-level radioactive waste research facility
The Ministry of Trade, Industry and Energy (MOTIE) and Korea Radioactive Waste Agency (KORAD) are calling for site proposals for underground facilities for high-level radioactive waste research beginning June 18 in accordance with the radioactive waste management technology development measures specified in the Korean government’s second high-level radioactive waste management basic plan (December 2021) and the High-Level Radioactive Waste R&D Roadmap (February 2024). The underground research facilities are for conducting studies on Korea’s rock mass properties and disposal system performance at 500m underground, at a depth similar to that of disposal facilities. The research facility will be built at a site entirely separate from high-level radioactive waste disposal facilities, without admitting any radioactive waste or used nuclear fuel inside the area, and is for only research purposes. The U.S., Germany, Sweden, Switzerland, Canada, Belgium, France, and Japan have in the past operated or are currently operating such facilities in their territories. The focus of the research facilities will be on specialized manpower training and development of disposal technologies suitable for the domestic geological environment, while also providing the general public the opportunity to experience an environment quite similar to that of a high-level radioactive waste disposal facility. Technologies developed in the facility will be utilized in the process of site selection, construction, and management of the high-level radioactive waste disposal facility upon the legislation of the Special Act on High-Level Radioactive Waste Management. For siting, a site evaluation committee under KORAD will evaluate the site proposals submitted by local governments in terms of geological suitability and such eight criteria with aim to complete the selection process by the end of the year. Construction is to commence in 2026 with completion targeting 2032, and the operation period is approximately 20 years starting from 2030. MOTIE and KORAD are holding a briefing on June 25 to explain the site selection process to interested local government bodies. Letters of intent and site proposals, respectively, must be submitted by July 19 and August 2, to KORAD. date2024-06-18
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Energy
Vice Minister visits Haengwon Green Hydrogen Demonstration Complex
Trade, Industry and Energy Vice Minister Namho Choe visited the Haengwon Green Hydrogen Production Facility and the Hamdeok Green Hydrogen Charging Station on June 17 on Jeju Island to see and experience firsthand the first commercialized domestic model of green hydrogen. date2024-06-18
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Energy
Hydrogen experts gather on Jeju Island for Green Hydrogen Global Forum 2024
The Ministry of Trade, Industry and Energy (MOTIE) and Jeju Special Self-Governing Province are hosting the Green Hydrogen Global Forum 2024 through June 17–19 at the International Convention Center (ICC) on Jeju Island to share clean hydrogen trends and policies and to facilitate discussions on cooperation measures. Launched in 2023, this year’s Forum draws 400 participants from various countries, including Germany, Norway, and Denmark, composed of hydrogen experts and key government figures and ambassadors. James F. Miller, a senior scientist in the Energy Systems and Infrastructure Analysis division at U.S.’ Argonne National Laboratory, and Marco Alverà, the author of "The Hydrogen Revolution,” gave keynote speeches at the opening ceremony, followed by the “Leadership Dialogue” program. The second day of the Forum will continue with discussions on measures for establishing the life cycle of clean hydrogen—production, storage, transport, and utilization—as well as sector coupling strategies for invigorating the accommodation of distributed energy resources, such as the conversion of surplus renewable energy to hydrogen. The last day of the Forum will have members of the general public visit the Haengwon Green Hydrogen Production Facility and the Hamdeok Green Hydrogen Charging Station on the island by bus to see and experience firsthand the first commercialized domestic model of green hydrogen. In his opening message, Vice Minister Namho Choe stated that “International cooperation and solidarity are key to realizing a clean hydrogen-based hydrogen economy,” and added that he looked forward to seeing the different countries’ governments and global experts take part in the vigorous information exchange and seek measures for mutual cooperation. date2024-06-18
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Energy
Korea and Japan hold 1st Hydrogen Cooperation Dialogue meeting
Director General for Hydrogen Economy Policy Park Chan-ki and Hiroo Inoue, Director General for Energy Efficiency and Renewable Energy Department at Japan’s Economy, Trade and Industry Ministry (METI), held the first Korea-Japan Hydrogen Cooperation Dialogue meeting on June 14 in Seoul with the participation of eleven related institutions, including Korea’s H2KOREA, Korea Electric Power Corporation (KEPCO), and Korea National Oil Corporation (KNOC), and Japan’s JH2A, Clean Fuel Ammonia Association (CFAA), and Japan Organization for Metals and Energy Security (JOGMEC). The meeting was held as a follow-up to the agreement made during the Korea-Japan summit talks this May for strengthening hydrogen cooperation, as well as part of bilateral efforts on clean energy areas as discussed at the summit talks at Stanford University, U.S., in 2023. Both sides shared their recent respective hydrogen policy developments, including the Hydrogen Society Promotion Act that Japan passed on May 17 and the Clean Hydrogen Power Bidding Market that Korea launched on May 24, and agreed to deepen cooperation in clean hydrogen and hydrogen compounds to achieve the nationally determined contributions (NDCs) and secure energy security. To note, the two countries’ hydrogen related institutions are to form working groups on carbon intensity and certification; standards and criteria; and a safety working group to work out the details for cooperation and to continue discussions on installing additional working groups in the future. Furthermore, the two sides agreed on the importance of the Korea-Japan business cooperation for diffusing the hydrogen economy ecosystem and expanding joint efforts on the global clean hydrogen supply chain, and decided to seek ways for bilateral private-led hydrogen supply chain cooperation. date2024-06-14
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Energy
Korea and Kazakhstan to spur synergy in critical minerals, energy, and manufacturing
The Ministry of Trade, Industry and Energy (MOTIE) announced on June 13 that the Korea International Trade Association (KITA) and Samruk Kayzana, Kazakhstan’s sovereign wealth fund, co-hosted the Korea-Kazakhstan Business Forum on June 12 in Astana. The Forum drew approximately 300 persons, including the Korean economic delegation and both countries’ entrepreneurs, and facilitated discussions on bilateral cooperation in critical minerals, energy, trade, investment, finance, new industries, and consumer goods. MOTIE’s Minister Dukgeun Ahn and Kazakhstan’s Industry and Construction Minister Kanat Sharlapaev attended the memorandum of understanding (MOU) signing ceremony for the inking of 24 private sector MOUs. Five of them were signed in the energy area for combined cycle power plants, renewable energy plants, power grid modernization, small modular reactors (SMRs), and gas treatment plants. For critical minerals, Korea Institute of Geoscience and Mineral Resources (KIGAM) and SK Ecoplant entered an MOU with the Kazakh Ministry of Industry and Construction on joint lithium mining exploration and development. KIGAM anticipates tangible outcomes, having confirmed the existence of a lithium deposit through lithium mining exploration in tandem with a local Kazakh research institution. The two countries further concluded MOUs in areas like automobile industry-academia talent nurturing and elevator R&D park establishment (5 MOUs); healthcare and new industries (3 MOUs); and financial assistance (2 MOUs), laying the groundwork for mutual collaboration at the government, public institution, and private sector level. date2024-06-13
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Energy
Korea and Kazakhstan to expand cooperation in supply chains and electric power sectors
The Ministry of Trade, Industry and Energy (MOTIE) announced on June 12 that MOTIE signed three memorandums of understanding (MOUs) with the Kazakh government for cooperation in the critical minerals supply chain, electric power industry, and regarding their joint economic commission on the margins of President Yoon Suk Yeol’s state visit to Kazakhstan and summit meeting with Kazakh President Kassym-Jomart Tokayev on June 12 in Astana. First, through the MOU on the critical minerals supply chain, the two countries agreed to increase people exchanges as well as cooperation for each stage of the value chain, including joint geophysical exploration, development, refining and smelting of critical minerals for manufacturing electric vehicles (EVs), semiconductors, and alloy sheets, such as lithium, chromium, manganese, rare earth elements, and uranium. The two sides decided to launch a supply chain dialogue on the occasion of the summit and to continue discussing concrete cooperation measures among related research institutions, companies, and financial institutions. Moreover, they signed an MOU for cooperation in electric power to enhance the two countries’ people exchanges and collaboration in the power sector. As the Kazakh government is pushing to expand the renewable energy mix ratio, transition from coal-fired power to gas-fired combined cycle power, upgrade old power plants’ energy efficiency, and convert to eco-friendly systems, Korean companies with competitiveness in these areas can look forward to future project opportunities. Meanwhile, following the Trade and Investment Promotion Framework (TIPF) sealed last October, the two countries also established the basic framework for bilateral trade, investment, and economic cooperation through the joint Trade-Economic and Scientific-Technical Cooperation Commission MOU. date2024-06-13
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Energy
MOTIE gives briefing on World Climate Industry Expo 2024
The Ministry of Trade, Industry and Energy (MOTIE) gave a briefing on the World Climate Industry Expo 2024 (WCE 2024) to the foreign embassies in Korea on June 12 in Seoul and explained the expo’s main programs and the need for utilizing carbon-free energy sources. MOTIE will be co-hosting WCE 2024 with the International Energy Agency (IEA) from September 4–6 under the theme of “Opening a New Era of Carbon-free Energy with Climate Technology” and 12 climate and energy related ministries are currently in preparation for the global event. Based on the shared understanding on the need for extensive utilization of carbon-free energy sources, the Korean government and the IEA are calling for participation of countries and international organizations by distributing letters of invitation and promotion material via overseas missions. The briefing was attended by the representatives of 50 embassies, including those from the U.S., EU, Denmark, and Australia. Carbon Free (CF) Alliance Secretary General Yang Euyseok noted that international consensus is building up, as seen in the agreement concluded at the COP28 UN Climate Change Conference declaring carbon-free energy technologies in nuclear power, hydrogen, carbon capture and storage (CCUS), and renewable energy as means of carbon reduction. He added that a global working group will be formed for establishing Carbon Free Energy (CFE) implementation and international standards. WCE 2024 is to host 11 conferences via three summits (CFE, industry/technology, climate) and will showcase the latest future technologies on carbon-free energy at exhibition booths of global companies like Samsung, LG, Hyundai Motor, and RWE. date2024-06-12
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Energy
Korea and Chile hold Critical Minerals Business Roundtable
Trade, Industry and Energy Vice Minister Namho Choe met with Chile’s Mining Minister Aurora Williams on June 11 in Seoul and held a Korea-Chile critical minerals business roundtable to discuss cooperation in critical minerals like lithium and copper. date2024-06-12