Ministry of Trade, Industry and Energy

Korea and Saudi Arabia hold talks on energy supply chain cooperation

Trade, Industry and Energy Minister Lee Chang-yang held a videoconference with Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman on November 2 at the latter’s request and discussed bilateral cooperation in energy sectors. The two countries shared the emphasis on the need for communication and cooperation between them, as crude oil supplier and consumer, to seek out oil market stabilization measures. Noting that Saudi Arabia is Korea’s major source of crude oil and the two date2022-11-04

2nd Vice Minister attends Korea Energy Show 2022

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the Korea Energy Show 2022 on November 2 at KINTEX in Ilsan held under the theme of “Low Carbon, High-Efficiency C-Tech Innovation for a Sustainable Future.”   In his opening message, Vice Minister Park emphasized the importance of low carbon and high-efficiency c-tech innovation to effectively respond to energy security and climate change. He also toured the various exhibition booths, including the Renewable En date2022-11-03

Korea signs nuclear reactor MOU & LOI with Poland

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 31 that it signed an MOU with the Polish Ministry of State Assets, and a letter of intent (LOI) was also signed between Korea Hydro & Nuclear Power (KHNP) and Poland's ZE PAK (private energy company) and PGE (state-owned public power company). ZE PAK, PGE and KHNP will appraise the feasibility of an APR-1400 (Advanced Power Reactor 1400 MW electricity) project in Patnow, central Poland. The MOU signed by the two countr date2022-11-01

MOTIE signs "KEEP 30" MOU for energy efficiency partnership

Trade, Industry and Energy Minister Lee Chang-yang signed the “Korea Energy Efficiency Partnership (KEEP) 30” MOU on October 19, a new project by which 30 largest energy consuming companies will make efforts to attain energy efficiency goals for over the next five years, while the Korean government supports them with an incentive package.   Minister Lee attended the MOU signing ceremony and gave an opening message. Participating companies expressed commitment to the five-year date2022-10-21

MOTIE signs "KEEP 30" MOU for energy efficiency partnership

Trade, Industry and Energy Minister Lee Chang-yang signed the “Korea Energy Efficiency Partnership (KEEP) 30” MOU on October 19 with 30 largest energy consuming companies’ representatives, including Samsung Electronics CEO Rhee In-yong and Hyundai Steel CEO Ahn Dong-il. The KEEP MOU signing is another commitment in a series of energy saving, following the “10 resolutions for the public sector energy diet” announced on October 6. Industrial energy consumption takes date2022-10-21

MOTIE announces Eco-Friendly Biofuel Development Measures

Trade, Industry and Energy Minister Lee Chang-yang held a conference on October 13 at the Korea Press Center in Seoul with industry representatives to sign a “mutual growth MOU” and announced the Ministry’s plan for developing and expanding effective use of eco-friendly biofuel.   Minister Lee encouraged the industry, stating that “it is very meaningful for Korean industries to make joint efforts for the vitalization of eco-friendly biofuel and other promising sect date2022-10-14

MOTIE announces Eco-Friendly Biofuel Development Measures

Trade, Industry and Energy Minister Lee Chang-yang held a conference on October 13 at the Korea Press Center in Seoul with industry representatives to sign a “mutual growth MOU” and announced the Ministry’s plan for developing and expanding effective use of eco-friendly biofuel. The plan was drafted and prepared against the backdrop of growing market prospects for eco-friendly biofuel as an effective means to respond to climate change, through extensive communication and cons date2022-10-14

2nd Vice Minister visits BIPV demonstration complex site

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited the Seoul Energy Corporation BIPV (Building Integrated Photovoltaic) demonstration complex site in Mok-dong, Seoul on October 11 to inspect the site and encourage entrance into new markets.   In his opening message, Vice Minister Park stated that “the BIPV industry is different from the conventional solar power development in that its product competitiveness is based on high value-added technology and design rather tha date2022-10-11

Minister holds “Public Institutions’ Energy Diet Resolution 10”

Trade, Industry and Energy Minister Lee Chang-yang held the “Public Institutions’ Energy Diet Resolution 10” on October 6 at the Seoul Energy Dream Center, in which 16 major institutions’ representatives attended to announce the energy saving policies and implementation plans going forward.   The representatives recited and signed the resolution stating goals of 1) achieving minimum 10 percent energy saving 2) practicing the five principles of winter season energy date2022-10-07

Minister holds “Public Institutions’ Energy Diet Resolution 10”

Trade, Industry and Energy Minister Lee Chang-yang held the “Public Institutions’ Energy Diet Resolution 10” on October 6 at the Seoul Energy Dream Center, in which 16 major institutions’ representatives attended to announce the energy saving policies and implementation plans going forward. The representatives recited and signed the resolution stating goals of 1) achieving minimum 10 percent energy saving 2) practicing the five principles of winter season energy saving a date2022-10-07