Ministry of Trade, Industry and Energy

Minister Paik discusses energy cooperation with Japanese tech leader

Trade, Industry and Energy Minister Paik Ungyu (third from left) discussed with SoftBank Group CEO Masayoshi Son (second from right) to seek energy cooperation during his visit to Tokyo, Japan, on May 8.During the meeting, Minister Paik and CEO Son exchanged views on various topics, including cooperation on renewable energies, construction of a Northeast Asia supergrid, and response to the Fourth Industrial Revolution (4IR).Minister Paik agreed with CEO Son about a significant decrease in the re date2018-05-08

Vice Minister Lee speaks at 16th International Energy Forum in New Delhi

Trade, Industry and Energy Vice Minister Lee Inho (center) explained Korea’s cases of energy innovation at the 16th International Energy Forum held in New Delhi, India from April 10 to 12 (India time).During a presentation on the last day of the three-day forum, Vice Minister Lee highlighted the importance of technology innovation for improving energy efficiency and sustainability, gave examples of Korea’s original energy technologies, and introduced Korea’s energy transformati date2018-04-12

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