Ministry of Trade, Industry and Energy

Korea, Indonesia Stepping Up Energy Ties

South Korean Deputy Minister for Energy and Resources Kim Jundong led a delegation from the public and private sectors to Bail, Indonesia on April 30 to host the 6th Korea-Indonesia Energy Forum. The event was aimed at enhancing bilateral ties and exploring new business opportunities in the energy and resources sectors. Under the theme of “Collaboration in Energy Development and Technology Partnership,” the event consisted of four sessions including oil and gas, coal and minerals, electricity and renewable energy. The occasion provided a chance for 150 participants to hold in-depth discussions and share information about the two nations’ energy policies and opportunities for joint projects. On the sidelines of the forum, two separate working group-level meetings were arranged to discuss gas utilization and renewable energy and energy conservation. The meeting produced two memorandums of understanding and a memorandum of agreement at the private level on better utilizing Indonesia’s gas resources and developing promising joint projects in related industries. As the two nations have a long history of cooperating in a wide range of fields in the energy industry, Deputy Minister Kim said the forum would serve as an opportunity to strengthen their economic partnership and promote trade in the energy sector. * Released by the Asia Division; the Resources Development Strategy Division; and the New and Renewable Energy Division date2013-05-07

Korea, Iraq Purse Closer Ties in Energy

date2013-05-02

Minister Tours Jeju Global Research Center

date2013-04-09

Minister Visits Jeju Smart Grid Test-bed

date2013-04-08

Vice Minister Speaks on Renewable Energy

Vice Minister for Trade and Energy Cho Seok attends the International Renewable Energy Agency (IRENA) Ministerial Roundtable Meetings on January 14 in Abu Dhabi, United Arab Emirates. date2013-01-21

Vice Minister Speaks at the Korea-Canada Natural Gas Forum

Vice Minister for Industry and Technology Yoon Sang-Jick delivers congratulatory remarks at the first Korea-Canada Natural Gas Forum on December 12 in Vancouver, Canada. The forum was arranged to expand bilateral collaboration in natural resources such as shale gas and natural gas. date2012-12-24

Korea, U.S. Pursue Closer Energy Partnership

Minister of Knowledge Economy Sukwoo HONG (left) shakes hands with the U.S. Secretary of Energy Steven Chu on December 6 in Washington D.C. The two officials discussed cooperation on clean energy technologies as well as the development of non-conventional energy resources including shale gas. date2012-12-14

Korea, New South Wales Focus on Energy

Vice Minister for Trade and Energy Cho Seok greets NSW Minister for Resources and Energy Chris Hartcher on November 30 at the Gwacheon Government Complex. The two officials discussed energy ties, with a particular emphasis on forging a closer investment partnership for resources development projects. date2012-12-11

Minister Greets Head of IEA

Minister of Knowledge Economy Sukwoo HONG shakes hands with the Executive Director of the International Energy Agency, Maria van der Hoeven on November 23 in Seoul. date2012-11-29

MKE Announces Energy Conservation Measures for Winter

The Ministry of Knowledge Economy has announced plans to cope with possible power shortages this winter as the nation’s power reserves are expected to fall below the safe level of 4 million kilowatts. The new measures require government offices and commercial buildings with high electricity demand to keep indoor temperatures at or below 18 and 20 degrees Celsius, respectively. The plan also limits retailers to one neon sign each and requires them to keep doors shut when heating systems are in use. On the supply side, the nation will make efforts to maximize power generation by fully mobilizing publicly- and privately-owned generators. For the first two months of 2013, businesses whose contract demand is greater than 3,000 kilowatts will be required to reduce consumption by up to 10 percent. From the beginning of the year, MKE also plans to introduce a critical-peak pricing program, which offers discounts on off-peak days while imposing surcharges for peak days and times to encourage energy saving. The ministry will update the public on the status of power reserves via public broadcasting networks and text messaging. The second nationwide blackout drill is scheduled in January to improve the readiness of industrial complexes for possible rolling power outages. * Released by the Electric Power Division and the Energy Efficiency Policy Division date2012-11-27