Ministry of Trade, Industry and Energy

Korea kicks off Project Team for innovative SMRs

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) jointly held a launching ceremony for the 'Innovative Small Modular Reactor (SMR) Technology Development Project Team (“Project Team”) at the Lotte City Hotel in Daejeon on July 10. The event was attended by over 100 industrial and academic experts including MOTIE Vice Minister Kang Kyung-sung, MSIT Minister Lee Jong-ho, Kim Young-sik and Choi Hyung-du of the Peopl date2023-07-14

2nd Vice Minister chairs meeting to assess nuclear facility export projects

Trade, Industry and Energy 2nd Vice Minister Kang Kyung-sung chaired the nuclear facility export project assessment meeting at K-SURE in Seoul on July 5 to discuss measures for promoting related projects and assistance for exporting nuclear power plant facilities and equipment.   The meeting was attended by representatives of relevant companies, including Korea Hydro & Nuclear Power (KHNP) President Hwang Ju-ho, Korea Electric Power Corporation (KEPCO) Executive Vice President Lee Heu date2023-07-12

Korea launches public-private joint SMR Alliance

The Government of the Republic of Korea and the industrial sector are teaming up to lead the market for small modular reactors (SMRs). At the launching ceremony for the public-private joint SMR Alliance (chaired by SK Inc.) held on July 4, the participants announced the future strategic plans and inked business agreements. The SMR Alliance is composed of 42 entities, including 11 state-run and Government organizations such as the Ministry of Trade, Industry and Energy (MOTIE), Korea Hydro date2023-07-11

Korea holds SMR Alliance Launching Ceremony

Trade, Industry and Energy Minister Lee Chang-yang attended the Small Modular Reactor (SMR) Alliance Launching Ceremony on July 4 at the Westin Josun Seoul.   In his opening message, he stated that “the public and private sectors must work together to respond to changes that will be brought on by SMRs and formulate business measures worthy of the public’s trust, and the Government will give full measure to provide full support for SMR industry development.”   The date2023-07-10

Minister Lee discusses trade and energy with U.S. House Energy Subcommittee

Trade, Industry and Energy Minister Lee Chang-yang met the U.S. House Energy Subcommittee on Energy, Climate, and Grid Security members Jeff Duncan, Tim Walberg, Randy Weber, Scott Peters and Debbie Lesko in Seoul on June 30 to discuss nuclear energy, natural gas and measures for strengthening Korea-U.S. trade cooperation. date2023-07-06

MOTIE holds 3rd briefing on measures for strengthening response to new trade regulations

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki attended the third briefing session on measures for strengthening response to new trade regulations at the Courtyard Seoul Namdaemun on June 28, co-hosted by the Ministry and the Korean Commercial Arbitration Board (KCAB).   After giving an opening message, Deputy Minister Roh led discussions on international investment arbitration, commercial arbitration and civil lawsuit trends and response meas date2023-07-06

2nd Vice Minister attends Nuclear Power Forum Foundation Assembly

Trade, Industry and Energy 2nd Vice Minister Kang Kyung-sung attended the Nuclear Power Forum Foundation Assembly held at the Korea Press Center on June 28, held for facilitation of discussions on the nuclear power industry’s future development and transparent communication with the public.   In his congratulatory message, Vice Minister Kang stated that “nuclear energy is an essential source of power for Korea’s energy security, and is a most powerful and efficient green date2023-07-05

Korea wins bid project for building tritium removal facility in Romania

Trade, Industry and Energy Minister Lee Chang-yang attended the ceremony for signing the memorandum of understanding (MOU) on the project bid for building a tritium removal facility in Romania worth KRW 260 billion, the largest amount as a single nuclear power plant facility export.   In his opening message, the Minister stated that export of not only large reactors but also facilities will be strongly supported to win additional bids in the future.   The event was attended by rela date2023-06-30

Korea wins bid project for building tritium removal facility in Romania

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 27 that Korea Hydro & Nuclear Power (KHNP) has won a KRW 260 billion bid project for building a tritium removal facility in Romania. The project will involve the building of a safety facility for capturing and storing tritium, which is a radioactive substance created in the process of activating heavy water reactors for the continued operation of Romania’s Cernavodă Nuclear Power Plant. Largest to date in value for date2023-06-30

Minister Lee discusses investment with Vestas CEO

Trade, Industry and Energy Minister Lee Chang-yang met with world-leading Danish wind turbine maker Vestas’ CEO Henrik Andersen in Seoul on June 26 to discuss Vestas’ Asia-Pacific headquarters relocation to Seoul slated for September, 2023, as well as the establishment of a new wind turbine parts manufacturing plant in Korea. date2023-06-27