Ministry of Trade, Industry and Energy

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

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