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Energy
Minister Sung visits Korean solar module manufacturer in Gimje
Trade, Industry and Energy Minister Sung Yunmo made an on-site visit to the plant of Shinsung E&G, a local solar module manufacturer, in Gimje, Jeollabukdo, on January 12, to encourage new investments for carbon neutral projects despite COVID-19 struggles.Minister Sung pointed out that the government will continue with efforts to establish a strong domestic renewable energy industry ecosystem in order to achieve a carbon neutral economy. date2021-01-12
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Energy
Government to allow renewable energy purchase as part of RE100 initiative
The Ministry of Trade, Industry and Energy announced on January 5th that it will allow domestic electricity consumers to purchase electricity from renewable sources as part of the RE100 initiative, a global campaign for transition to 100% renewable energy. Both industrial and general consumers of electricity can participate in the K-RE100 system through registration at the state-run Korea Energy Agency. Electricity from renewable sources will be procured through the green premium system, the th date2021-01-06
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Energy
Government announces plans to promote renewable energy
The Ministry of Trade, Industry and Energy announced the 5th Basic Plan on Renewable Energy on December 29, to accelerate Korea’s transition to a low-carbon economy and society based on renewable energy innovations in supply, market, demand, industry, and infrastructure. date2020-12-30
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Energy
Government announces Basic Plan on Electricity Demand and Supply
The Ministry of Trade, Industry and Energy announced on December 28 the 9th Basic Plan on Electricity Demand and Supply, which consists of power supply and demand forecasts, demand management plans, measures to improve the power market system and reduce of greenhouse gases for the next 15 years. Under the 9th Basic Plan, the government seeks to promote energy transition policies to a safe and clean power generation mix, implement measures to further reduce emissions, and expand investment on th date2020-12-29
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Energy
Korea unveils strategy to achieve carbon neutrality by 2050
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) attended a joint briefing at the government complex in Seoul, on December 7, and the ministries announced the strategy to achieve carbon neutrality by 2050.Minister Sung mentioned four areas of innovation in the energy sector: innovation in the supply of renewable energy, innovation in the power grid and facilities, innovation in the industrial ecosystem through technological development and investment, and innovation in the date2020-12-07
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Energy
Korea to encourage gas turbine manufacturing to lead Korea’s Green New Deal
Trade, Industry and Energy Minister Sung Yun-mo (center) held a meeting with gas turbine manufacturers and industry representatives on November 30, and announced measures to develop locally produced gas turbines for liquefied natural gas (LNG) power generation.Minister Sung said that securing self-reliance of gas turbines will be important in the energy transition process by allowing a stable power supply. He also said that building a strong domestic standard model of gas turbines will be a step date2020-11-30
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Energy
Deputy Minister Joo meets with ASEAN+, EAS energy ministers
Deputy Minister for Energy and Resources Joo Young-joon attended the 17th ASEAN+3 Ministers on Energy Meeting and the 14th EAS Energy Ministers Meeting held virtually on November 20, to discuss with member countries measures to support a sustainable energy future. date2020-11-20
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Energy
Minister Sung attends 2nd Hydrogen Economy Meeting
Trade, Industry and Energy Minister Sung Yun-mo (second from the right) attended the 2nd Meeting of Hydrogen Economy Committee chaired by the Prime Minister Chung Sye-kyun at the Seoul government complex, on October 15. The government plans to make hydrogen fueling mandatory, achieve 8GW in fuel cell volume by 2040, and expand the next year’s hydrogen investment to 800 billion won (USD 700 million). date2020-10-15
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Energy
MOTIE to support 4,000 energy companies by 2025 in Korea’s Green New Deal drive
Trade, Industry and Energy Minister Sung Yun-mo (second from the right) held a conference with representatives from the renewable energy sector and state-run energy companies, on September 22, and announced the Ministry’s plans to discover and encourage energy innovation companies by expanding R&D assistance, boosting private investment, and building foundation for the overall support system. Under the new strategy, the government will focus its support on the following six pr date2020-09-22
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Energy
Minister Sung discusses renewable energy sector’s institutional innovation at Green New Deal conference
Trade, Industry and Energy Minister Sung Yun-mo held the Green New Deal policy conference virtually at the Government Complex in Sejong, on September 2, with representatives from major energy companies to discuss the institutional innovation for the renewable energy sector.The Ministry will provide support measures for the Green New Deal, which aims to increase the solar and wind capacities three times by 2025, to expand the use of renewable sources and strengthen the industrial competitiveness date2020-09-02