Ministry of Trade, Industry and Energy

Government announces new policies to boost hydrogen industry

South Korea’s Prime Minister Han Duck-soo presided the fifth meeting of the Hydrogen Economy Commission (hereinafter “Commission”) on November 9 at the Lotte Hotel Seoul to announce the new hydrogen economy policy directions under Korea’s new regime in order to kick the industry’s growth into high gear. This Commission meeting is the first of its kind since the new administration’s inauguration, which appointed its second-generation civilian members succeedin date2022-11-10

Korea and Indonesia to strengthen supply chain and clean energy cooperation

The Ministry of Trade, Industry and Energy (MOTIE) held the 13th Korea-Indonesia Energy Forum via videoconferencing on November 8 with Indonesia’s Ministry of Energy and Mineral Resources. Rich in nickel, tin, and bituminous coal, Indonesia is an important country to Korea in terms of strategic cooperation in resources supply chain. As of 2021, Indonesia has the largest amount of nickel reserves (21 million metric Tons) in the world, and second largest amount of tin (0.8 million metric To date2022-11-09

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).   MOTIE’s Minister Lee Chang-yang stated that “this project is an achievement enabled by the Yoon administration’s policies and strong push for nuclear rea date2022-11-04

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 to cooperate for oil market stabilization and clean energy collaboration.   date2022-11-04

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