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Energy
Higher Oil Prices Boost Sales of Small and Hybrid Cars
Higher Oil Prices Boost Sales of Small and Hybrid Cars The Ministry of Knowledge Economy has released its car sales figures for February. Despite a shorter working month, vehicle sales in the domestic market totaled 114,465, the highest number in nine years. Of the total, 107,695 vehicles were domestic cars, which saw a 1.1 percent year-on-year increase in sales; meanwhile, imported cars saw a 5.2 percent increase with 6,770 vehicles sold. With the recent surge in oil prices, sales of fuel-effi date2011-03-15
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Energy
IT Trade Figures for February
IT Trade Figures for February The Ministry of Knowledge Economy has released its IT trade figures for February. The national trade balance in the information technology sector totaled $5.33 billion. Despite adverse overseas conditions and a shorter working month, IT exports increased for the 17th consecutive month, having climbed 4.8 percent year on year to reach $11.18 billion. Most of Korea’s key export items displayed positive growth. With shipments to China and Japan growing 9. date2011-03-09
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Energy
Korea Pursues Green Partnership with Canada
Representatives of Natural Resources Canada visited Seoul recently to discuss green technology with MKE officials, and the two sides concluded a memorandum of understanding. Areas of cooperation specified in the agreement include carbon capture and storage, renewable energy, smart grids, combined heat and power generation, and eco-friendly motor vehicles. Korean experts will work with their Canadian counterparts to engage in exchange programs, conduct joint research, and pursue demonstration projects involving these technologies. Details of the plan will be determined by the end of 2011. In a seminar that followed the signing ceremony, representatives of energy agencies in both countries shared policy information regarding the development of carbon capture and storage (CCS) technology and discussed ways to cooperate in this promising field. CCS and clean coal are two areas in which Canada has advanced technologies, so cooperative endeavors involving these technologies are expected to make particularly quick progress. * Released by the Energy Technology Division date2011-02-16
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Energy
Vice Minister Promotes Future Energy Technologies
Vice Minister for Trade and Energy Park Young June (right) talks with United Nations Secretary General Ban Ki-moon at an energy exhibition on January 17 in Abu Dhabi. The event, which featured future energy technologies from nearly 600 companies, was part of World Future Energy Summit. date2011-02-01
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Energy
Vice Minister Attends World Energy Summit
Vice Minister for Trade and Energy Park Young June (second from right) sits with other dignitaries at the World Energy Summit on January 17 in Abu Dhabi. Vice Minister Park shared his opinions on pressing energy issues with delegates from India, Germany, Ireland, Portugal, Bangladesh, Georgia and Pakistan. date2011-02-01
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Energy
Government Leading Efforts to Save Energy
A prolonged cold spell has Korea in its grip, and demand for electricity reached an all-time high last week. As the nation’s energy needs are expected to remain high throughout the winter season, the government has rolled up its sleeves and called for nationwide efforts to conserve energy. Public agencies are at the forefront of these efforts. The government looks at oil prices and reserve electricity to measure the disparity between supply and demand. On a scale from 1 to 4, level 4 indicates a severe energy shortage. Korea is currently at level 1. Government guidelines for level 1 prohibit the use of central heating for two hour-long periods per day during peak hours, and mandate that indoor temperatures be set no higher than 18 degrees Celsius. These guidelines apply to all the nation’s public agencies: government agencies, local governments, government-affiliated organizations and public enterprises. Officials working at these organizations are not allowed to use individual heaters during working hours, but instead are advised to wear long johns. If demand escalates, more stringent measures will be put in place. Level 2: Decorative lighting will be turned off. Level 3: Elevators will not stop at floors 1 though 5. Employees will be allowed to drive to work only every other day. Indoor lighting will be limited. Level 4: Employees will not be allowed to drive to work. Public facilities will close earlier than usual. The government will conduct unannounced inspections to monitor compliance and will publicize its findings. date2011-01-19
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Energy
Vice Minister Celebrates Smart Grid Technology Event
date2010-11-18
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Energy
Vice Minister Promotes Nuclear Energy for Green Growth
date2010-10-12
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Energy
Korea, Malaysia Discuss Green Technology Partnership
Delegates representing Korea and Malaysia discuss bilateral cooperation on green technology at an initial working group meeting in Seoul on September 28. date2010-10-07
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Energy
Minister Discusses Nuclear Cooperation With Argentinean Counterpart
Minister of Knowledge Economy Choi Kyunghwan shakes hands with Argentinean Minister of Federal Planning, Public Investment and Services Julio de Vido on September 16 in Gwacheon, south of Seoul. The two Ministers had just signed an MOU establishing a nuclear partnership between the two countries. date2010-10-01