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Energy
Korea and Colombia Team Up on Energy
Colombia is a promising partner for Korea, with great potential on the strength of its stable economy and its abundant natural resources. With the “Look Asia Project,” the country seeks to diversify its oil export market and acquire Korea’s world-renowned technology and expertise. On the occasion of the Summit, Minister of Knowledge Economy Choi Joong-Kyung also signed a memorandum of understanding with his Colombian counterpart, Minister of Mines and Energy Carlos Enrique Rodado, establishing a comprehensive partnership between the two countries in the power sector. The power sector is an area in which Korea has global competitiveness, and the partnership will help Colombia better utilize its ample water resources to enter a new era of advanced power systems. * Released by the Americas Division date2011-09-20
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Energy
Korea Goes Dark for Energy Day
August 17 was Korea’s eighth Energy Day. To mark the occasion, office buildings and apartment complexes across the nation went dark for five minutes beginning at 9 p.m. Air conditioners remained idle between 2 p.m. and 3 p.m. Similar measures in 2010 saved 750,000 kilowatt hours of energy—enough to power Jeju Island for nearly two hours. Seoulites gathered at City Hall Square for an educational exhibition, a songwriting contest, and a chance to set a new world record for generating the most energy by pedaling a bicycle. Political leaders and energy sector representatives pledged to make the nation more energy efficient, and the Ministry of Knowledge Economy announced the impressive progress of its energy conservation efforts. The promise of a 5 million won prize prompted 1.5 million households to use 2.01 percent less electricity in June 2011 compared with June 2010, the Ministry announced. Energy-intensive buildings, which were required to limit the use of air conditioning during the summer season, showed a 98 percent rate of compliance. Incheon International Airport was Korea’s top energy saver of 2010. The event showed that saving energy can be fun, and that everyone has a role to play in creating a greener Korea. * Released by the Energy Efficiency Policy Division date2011-08-19
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Energy
Minister Welcomes Australian Energy Minister
date2011-08-02
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Energy
Wind Farm Ushers In a New Era of Clean Energy
The new pilot wind farm sits on previously unused land within a thermal power plant site; the government chose the site with a view to prompt construction and more efficient operation of the turbines. Its goal is to establish a good track record for Korea’s budding wind power industry, which by 2015 is expected to become one of the country’s flagship industries along with semiconductors and shipbuilding. The government plans to build more turbines at Yeongheung to generate an additional 30 megawatts. It also plans to build more wind farms. Korea’s national plan for the development of the renewable energy industry, announced in October 2010, includes 10 projects to promote the wider dissemination of renewable energy equipment such as solar panels and wind turbines. The “Green Power” project will see renewable energy facilities installed within existing power companies and power stations. The global wind power industry has displayed steady growth, posting impressive annual rates of 20 to 30 percent. * Released by the New and Renewable Energy Division date2011-07-25
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Energy
Korea and Gabon Take First Step Toward Energy Partnership
Officials from Gabon visited Seoul last week to discuss energy partnerships with their Korean counterparts. The first meeting of the Korea-Gabon Joint Committee on Energy and Mineral Resources Cooperation was a successful first step toward collaboration on oil and mineral development projects and the establishment of energy infrastructure in Gabon. Gabon plans to found a state-owned oil company, and Korea can provide useful information for this endeavor. Training programs and joint technology development were among the topics raised at the meeting. Furthermore, Korean companies have expressed a keen interest in joint projects involving mineral resources and rare metals and the establishment of a new refinery in Gabon. The Korean delegates requested support for Korean businesses in Gabon so that the two countries can make the most of these opportunities. Both sides expressed the desire to widen the scope of bilateral cooperation to include green growth and free economic zones. Ahead of the meeting, Minister of Knowledge Economy Choi Joong-Kyung met with Minister of Mining, Oil and Hydrocarbons Alexandre Barro Chambrier. * Released by the Emerging Economies Cooperation Division date2011-07-08
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Energy
Energy Forum Reinforces Ties Between Korea, Indonesia
Vice Minister for Industrial Affairs and Global Industrial Cooperation Moon Jae-do traveled to Jakarta last week for the fourth Korea-Indonesia Energy Forum. The forum was an occasion to advance energy partnerships and explore new opportunities for cooperation. Vice Minister Moon pointed to energy and resources as a key sector in which stronger partnerships will significantly rev up the Indonesian economy. “Korea and Indonesia already have a very successful mineral resources and oil field partnership,” the Vice Minister said in his congratulatory speech. “Now it is time to build on what we have achieved, intensify ongoing cooperation, and strengthen our cooperative ties with future projects in mind.” Possible areas of cooperation include overseas oil and gas projects, the establishment of natural gas distribution networks, and the development of mines in Indonesia. Korea also wants to work with Indonesia to make its mining sector more eco-friendly and to increase the use of renewables, especially photovoltaic energy. Indonesia is one of Korea’s foremost energy partners, with ties that date back to 1979. After holding 22 consultations over nearly 30 years, in 2007 the two countries decided to establish an annual Energy Forum and engage in broader discussions. * Released by the Southeast Asia and Oceania Division date2011-07-07
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Energy
Korea Appointed Secretariat of International Smart Grid Action Network
For the next three years Korea will serve as Secretariat of the International Smart Grid Action Network (ISGAN), a mechanism for multilateral collaboration involving 20 member countries. As interim Secretariat since November 2010, Korea took the lead in supporting ISGAN’s administrative processes and communications. Recently, representatives of member governments and the International Energy Agency gathered in Seoul to kick off the first official meeting. Italy was chosen as Chair, with the United States and Korea as Vice Chairs. The representatives also assessed ISGAN’s progress in four foundational projects: a global inventory of smart grid policies and activities; smart grid case studies; cost-benefit analyses and toolkits; and a synthesis of insights for decision makers. “Korea will take a central role in facilitating a dynamic exchange of information to ensure the achievement of the shared goal: to advance the development and deployment of smarter electric grids around the world,” Vice Minister for Trade and Energy Kim Junggwan said at a ceremony held to celebrate Korea’s new role. ISGAN was launched in July 2010 at the first Clean Energy Ministerial in Washington, D.C., and formally established under the IEA via an Implementing Agreement signed in April at the second Ministerial in Abu Dhabi. For further information, please see the press release dated April 21. * Released by the Smart Grid and Electricity Market Division date2011-06-23
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Energy
Vice Minister Promotes Green Energy
Vice Minister for Trade and Energy Kim Junggwan speaks at the Global Green Energy Leaders’ Forum on June 14 in Seoul. The forum drew almost 500 participants, including dignitaries from Japan, the United States and Denmark. date2011-06-21
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Energy
Korea, Morocco to Step Up Renewable Energy Partnership
Deputy Minister for Industrial Economic Policy Kim Kyung-Won traveled to Casablanca last week to seek closer cooperation with Morocco in various business areas. Addressing delegates at a joint renewable energy forum, Deputy Minister Kim praised Morocco’s “forward-looking” efforts to expand the use of renewable energy. Morocco’s sun and wind conditions put the country in an ideal position to build up its photovoltaic energy and wind power industries. In recognition of these advantages, the Moroccan government intends to generate 42 percent of the country’s total electric power from renewable energy sources by 2020. Meanwhile, Korea’s own green initiatives are on the right track with active investment and impressive growth in the renewable energy sector. Deputy Minister Kim welcomed what he called “exciting opportunities for cooperation” and said Korea’s advanced technology will benefit the North African partner’s photovoltaic energy and wind power industries so that its far-reaching plans can bear fruit. Ahead of the renewable energy forum, Deputy Minister Kim and Moroccan Secretary General of Industry, Trade and New Technology Mounia Boucetta signed a memorandum of understanding on industrial partnerships. The next day, the two sides held a joint business forum. * Released by the Middle East and Africa Division and the New and Renewable Energy Division date2011-06-02
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Energy
Korea, Cameroon to Cooperate on Minerals
Minister of Knowledge Economy Choi Joong-Kyung (center) stands with Cameroon’s Minister of Industry, Mines and Technology Development Badel Ndanga Ndinga and Korea Resources Corporation President Kim Shin-Jong at a signing ceremony on April 29 in Seoul. The two Ministers discussed cooperation on energy and resources and a memorandum of understanding establishing a mineral resources partnership between Korea and Cameroon was signed. date2011-05-12