Ministry of Trade, Industry and Energy

Smart Grid Week Opens Up New World

The second Korea Smart Grid Week ran from November 16 to 18 in Seoul. World-renowned experts such as International Electrotechnical Commission Smart Grid Strategic Group Chairman Richard Schomberg and U.S. National Coordinator for Smart Grid Interoperability George W. Arnold helped make the International Smart Grid Conference a success. Meanwhile, World Smart Grid Expo 2011 drew representatives from more than 80 companies and institutions from Korea and abroad. At the conference, experts discussed ways to standardize smart grids and reviewed the progress of Korea’s smart grid technology following successes at the Jeju smart grid test bed. Other presentations detailed foreign test-bed projects and new regulations concerning smart grids. Eminent guest speakers such as Ali Izadi, an energy and smart technology analyst at Bloomberg New Energy Finance, made the information accessible to the general public. The exhibition showcased smart home appliances, eco-friendly electric vehicles, and equipment for the advanced metering infrastructure that is under development. Korea also seized the occasion to announce its international smart grid policy direction for the next five years and the steps it will take to implement its vision. Korea aims to establish specialized smart grid bases by 2016 and to explore opportunities in such new business areas as energy management services, energy storage services, electric vehicle charging services, virtual power plants and demand response. * Released by the Smart Grid and Electricity Market Division   date2011-11-25

Korea Announces R&D Plan to Nurture the Green Industry

Korea Announces R&D Plan to Nurture the Green Industry As part of its efforts to become one of the world’s top five green energy powerhouses by 2020, Korea intends to double its budget for energy R&D between now and then. Under a plan announced last week, Korea will strengthen its core technology in the area of green energy and secure 10 percent of the global market.   Technology development and R&D carried out under the plan will effect a 12 percent increase in energy ef date2011-11-23

Korea Opens Global Research Center For New and Renewable Energy

Vice Minister for Trade and Energy Kim Junggwan cuts the ribbon at a ceremony to mark the opening of the Jeju Global Research Center on November 14. The new center will focus on new and renewable energy convergence technology. date2011-11-16

Korea, U.S. Embark on Clean Energy Partnership

Minister of Knowledge Economy Choi Joong-Kyung recently traveled to the United States to accompany President Lee Myung-bak on a state visit. While there, Minister Choi met with U.S. Secretary of Energy Steven Chu and signed an Implementing Arrangement establishing a clean energy research and technology partnership between the two countries. The deal defines a framework for practical research and development cooperation, leveraging Korea’s technological competitiveness as well as the U.S. side’s worldrenowned expertise in the energy sector. Now that it is in place, Korea and the United States will promote joint R&D projects and exchange information, personnel and equipment. The scope of bilateral cooperation will include energy efficiency, renewable energy, smart grid technology, green transportation, carbon capture and storage, and energy storage systems. “With this ground-breaking Arrangement, Korea and the United States have launched a new era of economic and industrial partnerships,” said Minister Choi. * Released by the Americas Division and the Energy Technology Division date2011-10-20

Korea Sets Emissions Reduction Targets for Businesses

* Released by the Energy Efficiency Policy Division date2011-10-13

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

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

Minister Welcomes Australian Energy Minister

date2011-08-02

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

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