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Energy
Experts discuss situation and outlook of carbon-free energy sources at CFE Initiative Conference
Trade, Industry and Energy Minister Dukgeun Ahn held the Carbon Free Energy (CFE) Initiative Conference on July 16 in Seoul to review the CFE Initiative’s achievements and plans and to gather opinions from experts. The CFE Initiative is a global campaign which aims for the decarbonization of electricity (Scope 2) by utilizing carbon-free energy sources including renewables, nuclear, and hydrogen, as well as the decarbonization of industrial process (Scope 1) by transitioning to carbon-free fuels and feedstocks. Initially introduced by President Yoon Suk Yeol during his keynote speech at the United Nations General Assembly in September 2023, the CFE Initiative has so far received the official support of eight countries, including the UK, France, and Japan. Based on the international community’s common understanding of the need to utilize various carbon-free energy sources, the Ministry of Trade, Industry and Energy (MOTIE) and the International Energy Agency (IEA) will co-host the World Climate Industry Expo 2024 (WCE 2024) in Busan this September. In particular, alongside WCE 2024, MOTIE plans to launch a Korea-Japan CFE Working Session in conjunction with Japan. In the following October, MOTIE will also launch a “CFE Global Working Group” jointly with other countries on the sidelines of the Clean Energy Ministerial (CEM) to be held in Brazil and commence on establishing the CFE certification scheme, which includes the specific scope as well as procurement and certification methods of carbon-free energy. Companies who attended the conference pointed out that international standards for recognizing businesses’ efforts to achieve carbon neutrality are either yet to be developed or still ill-designed, making it difficult for businesses to establish net zero strategies. In this respect, the companies emphasized the need for establishing an internationally-acceptable CFE certification scheme by pursuing public-private as well as intergovernmental cooperation. Chairman of the CF Alliance, Mr. Hoesung Lee stressed that, as the CFE Initiative promotes the comprehensive use and development of a wide range of carbon-free energy sources, the Initiative will be able to attract the participation of both manufacturing-oriented countries and developing countries and accelerate the achievement of net zero on a global scale. Minister Ahn mentioned that MOTIE will expedite the establishment of CFE Initiative certification scheme with a view to enhancing the competitiveness of Korea’s advanced and key industries as well as achieving net zero and taking the lead in global climate action. date2024-07-16
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Energy
Minister Ahn holds Carbon Free Energy Initiative Conference
Trade, Industry and Energy Minister Dukgeun Ahn held a Carbon Free Energy Initiative Conference on July 16 in Seoul to discuss outcomes and outlook of the CFE Initiative with experts and discussed international carbon regulation response and global diffusion of the CFE Initiative. The conference was attended by representatives of related institutions, companies, and academia, including Korea Institute of Industrial Technology (KITECH), Samsung Electronics, POSCO, GS Energy, Hanwha Solutions, Doosan Enerbility, and Konkuk University. date2024-07-16
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Energy
MOTIE signs MOU on energy saving and carbon reduction with CNC and Samsung Electronics
The Ministry of Trade, Industry and Energy (MOTIE) entered into a memorandum of understanding (MOU) with the 2050 Presidential Commission on Carbon Neutrality and Green Growth (“CNC”) and Samsung Electronics on July 11 in Seoul to promote energy-saving practices and carbon reduction efforts by utilizing the artificial intelligence (AI) functionality and automated demand response (ADR) system of home appliance management applications (apps). MOTIE’s Vice Minister Namho Choe took part in the MOU signing with CNC Co-Chairperson Kim Sang-hyup and Samsung Electronics Executive Vice President Park Chan-woo. date2024-07-11
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Energy
MOTIE signs MOU on energy saving and carbon reduction with CNC and Samsung Electronics
The Ministry of Trade, Industry and Energy (MOTIE) entered into a memorandum of understanding (MOU) with the 2050 Presidential Commission on Carbon Neutrality and Green Growth (“CNC”) and Samsung Electronics on July 11 in Seoul to promote energy-saving practices and carbon reduction efforts by utilizing the artificial intelligence (AI) functionality and automated demand response (ADR) system of home appliance management applications (apps). MOTIE’s Vice Minister Namho Choe took part in the MOU signing with CNC Co-Chairperson Kim Sang-hyup and Samsung Electronics Executive Vice President Park Chan-woo. In accordance with this MOU, the three parties plan to launch a nationwide campaign to promote public awareness of energy saving and carbon reduction efforts through Samsung Electronics’ ADR-enabled home appliance management app. As part of the campaign, they will be working in tandem to provide the public with demand response (DR) schedule data, synchronize home appliance management apps, and support the public’s daily efforts to promote carbon neutrality and green growth. Vice Minister Choe said, “Although we see strong public participation in energy saving, it is still considered necessary but inconvenient. In this regard, this energy saving campaign is a good measure to minimize the inconvenience to participants by synchronizing demand response signaling and smart appliance apps.” date2024-07-11
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Energy
Vice Minister speaks at Summertime Energy Saving Campaign
Vice Minister Namho Choe attended the Summertime Energy Saving Citizen Campaign launching ceremony on July 10 in Seoul for promoting energy saving efforts. The ceremony was held with the participation of roughly 80 persons, including representatives of public energy companies, economic groups, and the general public, including Korea Electric Power Corporation (KEPCO) and Korea NGO's Energy Network (ENET). date2024-07-11
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Energy
Vice Minister attends POSCO International’s Gwangyang LNG Terminal completion ceremony
Vice Minister Namho Choe attended POSCO International’s Gwangyang LNG Terminal completion ceremony on July 9 in South Jeolla Province and gave a congratulatory message. The ceremony was held with the attendance of representatives of local authorities, related institutions, and companies, including Korea Gas Corporation (KOGAS). date2024-07-09
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Energy
Vice Minister attends completion ceremony of POSCO International's Gwangyang LNG Terminal
Vice Minister Namho Choe attended the completion ceremony of POSCO International’s Gwangyang LNG Terminal No. 1 on July 9, held in South Jeolla Province. The KRW 1.05 trillion Gwangyang LNG Terminal project commenced in 2002 as the first private-led LNG terminal, housing six LNG tanks (930,000kl), 680 metric tons per hour gasification and transmission facilities, as well as port facilities capable of berthing a 180,000m3 LNG carrier. In his congratulatory message, Vice Minister Choe mentioned plans to foster an environment for creating nationwide synergy through mutual cooperation and competition between the Korea Gas Corporation (KOGAS) and the private sector. The Ministry of Trade, Industry and Energy (MOTIE) aims to launch a deliberative committee in the latter half of this year to support the objective and fair decision process regarding the use of pipelines and controlling the natural gas charge volume per terminal. date2024-07-09
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Energy
Vice Minister chairs Renewable Energy Policy Meeting
Trade, Industry and Energy Vice Minister Namho Choe chaired the Renewable Energy Policy Meeting on July 3 in Seoul with participation of 40 attendees consisting of government officials, local authorities, and related institutions, and announced the ministry’s measures for invigorating solar power generation across industrial complexes, then discussed renewable energy distribution strategies, demonstration projects, and local issues. date2024-07-04
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Energy
Solar power distribution blueprint built around Korea's industrial complexes
Trade, Industry and Energy Vice Minister Namho Choe chaired the Renewable Energy Policy Meeting on July 3 and announced the ministry’s measures for invigorating solar power generation across industrial complexes as part of implementing the previously announced strategy for expanding renewable energy distribution and bolstering supply chains. As the demand for carbon-free energy sources is on the rise, the Korean government is pushing for an orderly distribution of renewable energy sources in addition to nuclear power. In realizing the distribution of 6GW per annum in accordance with the 11th Basic Plan on Electricity Supply and Demand, some of the existing challenges include power system stabilization and local residents’ receptivity issues. In view of these challenges, the Ministry of Trade, Industry and Energy (MOTIE) is eyeing the industrial complexes as candidate sites, as they are low in residential population and undergo planned development. Industrial complexes are also highly concentrated with companies and consume large quantities of power. In this vein, MOTIE has established measures for invigorating the distribution of 6GW solar power installed across industrial complexes by 2030. The plan is to provide tailored support spanning the entire process of securing site location, licensing, and facility operation. Project and investment briefings will be held to draw the participation of tenant businesses. Business models are to be determined in detail through consultations. In the licensing stage, real-time information sharing will be available, and the overall licensing process will be shortened. At the management stage, the goal is to secure stability through organized maintenance. The Government will also strengthen the role of the public sector for an orderly distribution of solar power. A committee consisting of members from the Government, local authorities, and related institutions will steer public demonstration projects and site location. This year, demonstration projects amounting to an aggregate 240MW will be launched across industrial clusters in Cheonan, Daebul, Ulsan, and Pohang. Committee members will seek measures to include the joint participation of plant owners and workers. Vice Minister Choe remarked that “Korea’s industrial clusters are the optimal sites for orderly solar power distribution,” adding that the ministry will aim to carry out a cost-effective distribution centering on state-led projects. date2024-07-04
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Energy
Minister Ahn speaks at Korea-U.S. Clean Energy Forum
Trade, Industry and Energy Minister Dukgeun Ahn is speaking at the Korea-U.S. Clean Energy Forum on June 25 in Washington D.C., which was attended by U.S. Deputy Secretary of Energy David Turk and representatives of related institutions and energy companies. date2024-06-27