Ministry of Trade, Industry and Energy

Minister Greets World Bank Leader

Minister Greets World Bank Leader Minister of Knowledge Economy Sukwoo HONG met with the President of World Bank Jim Yong Kim on October 15 in Seoul. The discussion focused on strengthening cooperation between MKE and the World Bank. date2012-10-25

Korea Announces Emissions Reduction Targets for 2013

In preparation for a cap and trade scheme starting in 2015, the Ministry of Knowledge  Economy has announced emissions reduction and energy consumption targets for 377 businesses in the power and industrial sectors for next year. After a thorough verification of the BAU levels submitted by the companies, targets were set in consideration of their possible impact on investment and job creation. The estimated emissions of the 377 companies in the industrial and power sectors for the next year amount to 570.6 million metric tonnes, accounting for 96.7 percent of Korea’s emissions. Under this plan, Korea aims to cut 17.2 million tonnes of carbon dioxide emissions or 3 percent of next year’s BAU levels, which is more than double that of this year. It is also expected to save 224.1 petajoules of energy in 2013. date2012-10-18

Minister Addresses LNG Producer-Consumer Conference

Minister of Knowledge Economy Sukwoo HONG speaks at the LNG Producer-Consumer Conference on September 19 in Tokyo. Senior government officials and business leaders from LNG producing and consuming nations participated in the conference to seek closer cooperation in maintaining the stability of the energy market. date2012-09-27

Korea, Canada’s British Columbia Enhance Energy Ties

Vice Minister for Trade and Energy Cho Seok and his Canadian counterpart Deputy Minister of the Ministry of Energy and Mines Steve Carr shake hands after signing the memorandum of understanding on August 28 in Vancouver, Canada. The deal will strengthen bilateral cooperation on energy resources development. date2012-09-06

Korea, Mozambique Discuss Energy

Minister of Knowledge Economy Sukwoo HONG greets his Mozambican counterpart, Minister of Mineral Resources Esperança Bias, on August 10 at the Gwacheon Government Complex. The two officials talked about ways to strengthen cooperation on industrial development and how to support mineral resources exploration projects. date2012-08-21

Korea, UAE Discuss Energy

date2012-07-06

Vice Minister Attends APEC Energy Ministerial Meeting

Vice Minister for Trade and Energy Cho Seok (sixth from left, back row) stands with energy ministers from 20 APEC member countries on June 25 in St. Petersburg, Russia. The 10th APEC Energy Ministerial Meeting focused on energy security and its role in achieving sustainable growth. date2012-07-06

Korea to Hold Nationwide Blackout Drill

The Ministry of Knowledge Economy conducted its first-ever nationwide blackout drill on June 21 to test Korea’s emergency response capabilities in the event of a summer power outage. The 20-minute drill started at 2 p.m., the time of day when demand for electricity is at its peak. MKE asked citizens to participate voluntarily in the exercise to support the nation’s energy conservation efforts. The Ministry publicized guidelines on its website and social networking sites, as well as in television and radio public service announcements. Households and office buildings were encouraged to turn off unnecessary lights and unplug small appliances and office equipment. Shopping centers and retailers joined the effort by setting air conditioners to higher temperatures and by shutting off automatic doors and air curtains. Industrial complexes adjusted their hours of operation and used their emergency power generators. Schools and other public institutions turned off the power except for essential safety equipment. During the drill, 28 pre-selected buildings in seven major cities turned off the electricity for 10 minutes to check their readiness for a power outage. Emergency response exercises were carried out at another 33 locations to determine how well subway stations, hospitals and elevator emergency crews could cope with a sudden blackout. After evaluating the outcome of the exercise, the Ministry will map out a comprehensive response plan in collaboration with other government bodies. * Released by the Electric Power Division date2012-06-25

Minister Visits Jeju Smart Grid Test Bed

Minister of Knowledge Economy Sukwoo HONG listens to a guide speak at the Jeju Smart Grid Test Bed PR Center on June 2. The center’s purpose is to promote Korea’s smart grid industry both in Korea and internationally. The Minister also test-drove an electric vehicle and used a charging station. date2012-06-13

Korea, Denmark Focus on Green Growth

Vice Minister for Industry and Technology Yoon Sang-Jick shakes hands with Danish Minister for Business and Growth Ole Sohn on May 15 in Seoul. The two officials signed a memorandum of understanding on the development of green ships at the second meeting of the Danish-Korean Green Growth Alliance. date2012-05-23