Ministry of Trade, Industry and Energy

Minister Paik visits Barakah nuclear power plant construction site in UAE

Trade, Industry and Energy Minister Paik Ungyu (center, in yellow vest) visited the construction site of the Barakah Nuclear Energy Plant in the United Arab Emirates (U.A.E.) on February 24 (U.A.E. local time).During the visit, Minister Paik met with Emirates Nuclear Energy Corporation (ENEC) CEO Mohamed Al Hammadi to check the construction progress of the nuclear power plant.Minister Paik also attended a luncheon to encourage workers of the Korea Electric Power Corporation (KEPCO) and the Korea date2018-02-26

Minister Paik meets with energy industry leaders

Trade, Industry and Energy Minister Paik Ungyu (seventh from right) posed for a photo with representatives of the energy sector during the New Year’s gathering with the industry at a hotel in downtown Seoul on January 23. The New Year’s gathering was arranged to encourage the energy industry and promote its further development.   In his New Year’s address to the gathering, Minister Paik asked the energy industry to expand investment to help create new markets in response date2018-01-24

Ministry announces 8th Basic Plan for Electricity Supply and Demand

The Ministry of Trade, Industry and Energy announced on December 14 a draft of the 8th Basic Plan for Long-term Electricity Supply and Demand.    Under the new biennial plan, which reflects environmental and safety factors in addition to stable power supply and economic efficiency, Korea will produce more power from renewable energy sources and natural gas, while gradually reducing its reliance on coal and nuclear power.    The Basic Plan for Long-term Electricity Supply date2017-12-14

Minister Paik discusses energy ties with UK’s Energy Secretary

Trade, Industry and Energy Minister Paik Ungyu (right) posed for a photo with Secretary of State for Business, Energy and Industrial Strategy (BEIS) Greg Clark during his visit to London, United Kingdom, on November 27.  During their meeting, Minister Paik and his counterpart Secretary Clark discussed ways of expanding cooperation in the nuclear power sector, ranging from construction and decommissioning of nuclear power plants, and promoting technological cooperation as part of efforts to date2017-11-27

Minister Paik meets with IEA Executive Director

Trade, Industry and Energy Minister Paik (right) posed for a photo with International Energy Agency (IEA) Executive Director Fatih Birol during their meeting at the Korea Technology Center in Seoul on October 17.  At the meeting, Minister Paik and Executive Director Birol exchanged their views on the global energy markets and changing market environment as well as the Korean government’s new energy policy directions.  The IEA head visited Korea to attend the World Knowledge For date2017-10-17

Minister Paik discusses exports of nuclear reactors with industries

Trade, Industry and Energy Minister Paik Ungyu (second from right) spoke at the “nuclear reactor export strategy consultative meeting” in downtown Seoul on October 10.  Minister Paik presided the meeting with nuclear industry representatives and discussed the market environment for nuclear reactor exports, strategies for potential markets, and measures to reduce financial risks associated with overseas sales of reactors.  The Minister said in his opening remarks that the date2017-10-10

Ministry to support nuclear reactor exports

The Ministry of Trade, Industry and Energy announced on October 10 that the Ministry will strongly support the domestic industries’ bid to export nuclear reactors.    On October 10, Trade, Industry and Energy Minister Paik Ungyu presided a “nuclear export strategy consultative meeting” with industry representatives in downtown Seoul to discuss the international market environment for reactor sales, strategies for potential markets, and measures to reduce financial date2017-10-10

Korea to host 2019 International Renewable Energy Conference

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 15 that Korea won the bid to host the 2019 International Renewable Energy Conference (IREC).   During the 2017 IREC in Mexico, the steering committee of REN21 (Renewable Energy Policy Network for the 21st Century) chose Korea as the next host over strong competitors for the country’s energy transition policy with a focus on renewable energy. Korea is the first Asian country that officially declared gradual shi date2017-09-15

Vice Minister Lee hosts 1st consultative meeting on renewable energy policies

Trade, Industry and Energy Vice Minister Lee Inho (third from left) spoke at the first consultation meeting on renewable energy policies in a hotel in downtown Seoul on August 24.  The meeting was designed to bring together municipal governments, civic groups, industries, and academics to cooperate on the government’s goal to boost the proportion of renewable energy in power generation to 20 percent by 2030.  Vice Minister Lee delivered a speech and discussed various renewable date2017-08-24

Kori Unit 1, Korea’s first nuclear reactor, ceases operations

President Moon Jae-in (center) delivered a speech at the ceremony to announce the retirement of Kori Unit 1, Korea’s first nuclear reactor, in front of the Kori Nuclear Power Plant, Gijang-gun, Busan, on June 19.    President Moon said the end of Kori Unit 1’s operation is the first step on Korea’s path to reduced dependency on nuclear energy and transition toward renewable energy.   The 587-megawatt reactor entered commercial operation in April 29, 1978 date2017-06-19