Ministry of Trade, Industry and Energy

Gov’t to expand discount on electricity bills linked to renewable energy consumption

The Ministry of Trade, Industry and Energy announced on March 29 that discounts on electricity bills for renewable energy user-producers will be expanded. The new amount of the discounts will equate to the value of up to 75 percent of renewable electricity generated and consumed.   Under the current special rules to promote renewable energy, its user-producers are eligible for a 10-percent or higher discount on their electricity bills under the condition that the amount of green electrici date2017-03-29

Minister Joo attends launch of electric vehicle charging station in heart of Seoul

Trade, Industry and Energy Minister Joo Hyunghwan (left) checked out an electric vehicle charging equipment displayed in Yongsan Station in central Seoul, on February 9, during his visit to the station for the opening ceremony of the flagship downtown electric vehicle (EV) charging facility.  The EV recharging station with 21 chargers is located at the I’Park Mall that connects a hypermarket, a movie multiplex and a train station, and will allow EV drivers recharge their vehicles whi date2017-02-09

Vice Minister Woo delivers speech at 1st 'Energy Future Forum' for 2017

Trade, Industry and Energy Vice Minister Woo Taehee delivered a speech on the 2017 energy policy direction at this year’s first 'Energy Future Forum' in Seoul on January 13.    The Energy Future Forum is a monthly meeting, first held in 2011, that provides the energy industry and other related industries with the opportunity to discuss the latest energy issues. This regular forum is organized by the Association of Energy Future Forum (AEFF), a non-profit organization with aroun date2017-01-13

Minister Joo hosts finance and investment meeting for new energy projects

Trade, Industry and Energy Minister Joo Hyunghwan (second from right) held a finance and investment meeting for new energy businesses in Seoul on January 4 with Cho Hwan-eik, CEO of Korea Electric Power Corp.; Park Sang-woo, CEO of Korea Land and Housing Corp.; Kang Nam-hoon, president of Korea Energy Agency; and other major industry leaders. Minister Joo announced that Korea will invest nearly 14 trillion won in new energy projects this year, up 25 percent from the previous year, and urged bot date2017-01-04

Minister Joo attends investment forum on renewable energy business

Trade, Industry and Energy Minister Joo Hyunghwan(center) attended the ``New and Renewable Energy Business Investment Forum'' in Seoul on December 27, 2016.  Minister Joo emphasized the importance of expanding investment in renewable energy businesses in view of their enhanced stability. On the same day, he signed a memorandum of understanding (MOU) for financial investment in the Yeonggwang wind power station and Daesan’s hydrogen fuel cells.   The forum was attended by more t date2016-12-27

Korea, Denmark join heads to discuss green growth

Trade, Industry and Energy Vice Minister Woo Taehee (third from right, front row) delivered his keynote speech at the 6th Korea-Denmark Green Growth Alliance Meeting, held under the theme of the ``Energy Transition Towards a Greener Future’’ in Seoul on Oct 25.  In his speech, the Vice Minister  highlighted the strategies of new Korean energy industry and strengthened cooperation between the two countries.     At this meeting, Korean Prime Minist date2016-10-28

Korea, UAE signs deal to set up JV for Bakarah nuclear plant operation

  Trade, Industry and Energy Minister Joo Hyunghwan (left, back row) attended a contract signing for a joint venture deal to operate the four reactors under construction in Bakarah, the United Arab Emirates, with his counterpart Khaldoon al-Mubarak (right, back row), chairman of Executive Affairs Authority for the Emirate of Abu Dhabi.  Korea Electric Power Corp. CEO Cho Hwan-eik (left, front row) and Emirates Nuclear Energy Corporation (ENEC) CEO Mohamed Al Hammadi (right, front row date2016-10-22

Minister Joo visits UAE nuclear power plant construction site

          Minister of Trade, Industry and Energy Joo Hyunghwan (center) visited the Barakah nuclear power plant complex in the United Arab Emirates on Oct 19 to encourage the dispatched Korean workers at the site.   Korea has been building four APR-1400 nuclear reactors with home-grown technology within the complex since 2012. This is the first nuclear power plant in UAE.   The minister checked the status of construction ente date2016-10-21

Korea to operate four nuclear reactors in UAE for 60 years

Korea and the United Arab Emirates signed a deal to set up a joint venture to operate four nuclear reactors under construction in Bakarah ,the United Arab Emirates, on Oct 20 in Abu Dhabi.   Under the deal, the UAE’s nuclear operator and the Korea Electric Power Corporation, the prime contractor for UAE’s first nuclear plant construction, will set up the joint venture to operate the four reactors in Bakarah for the next 60 years.   KEPCO will secure an 18 percent date2016-10-20

Vice Minister Woo attends panel discussion during the 23rd World Energy Congress

      Trade, Industry and Energy Vice Minister Woo Taehee (second from right) attended a panel discussion for new energy businesses at the 23rd World Energy Congress (WEC), held between October 9-13  in Istanbul, Turkey.   The most comprehensive gathering in the global energy scene was designed to address the looming energy “trilemma”—energy security, energy equality, and environmental sustainability.   Vice Minister Woo presented Korea' date2016-10-12