Ministry of Trade, Industry and 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

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

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

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

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

Vice Minister Visits Colombian Energy Minister

Vice Minister for Trade and Energy Park Young June poses with Colombian Minister of Mines and Energy Carlos Rodado Noriega on April 29 in Bogota following discussions on trade, investment and energy. date2011-05-12

Vice Minister Visits Colombia for Energy Meeting

Vice Minister for Trade and Energy Park Young June poses with Colombian Minister of Mines and Energy Carlos Rodado Noriega on April 29 in Bogota. Vice Minister Park was in the country for the second meeting of the Colombia-Korea Joint Committee for Energy and Resources Cooperation. date2011-05-12

‘Yellow Alert’ Saves Enough Energy to Power 1 Million Homes

The Ministry of Knowledge Economy’s “yellow alert,” an emergency energy conservation measure taken in response to high oil prices this past winter, is estimated to have saved more than 9 million kilowatt hours per day—nough energy to power more than a million homes. A review to assess the effectiveness of the emergency measure found that Korea had saved 96.2 million kilowatt hours per day between March 8 and April 17, as compared with the previous one-month period when less strict measures were in place. This figure was adjusted to 9 million kilowatt hours per day when the warmer spring weather was taken into account. The chart below shows Korea’s four alert levels, which correspond to the price of Dubai crude oil and determine what measures are required to conserve energy. Between February 8 and March 7, Korea was on “blue alert,” the lowest level on the scale. At the blue level, central heating is turned off for two hour-long periods per day during peak hours; indoor temperatures must be set no higher than 18 degrees Celsius; and employees must observe a weekly “no-driving day.” These restrictions apply to all the nation’s public agencies: central and local government agencies, government-affiliated organizations and public enterprises. But after oil prices remained above $100 per barrel for five straight days in February, the Ministry issued a “yellow alert” and imposed additional restrictions on energy use. At the yellow level, outdoor decorative lighting must be turned off in facilities managed by public organizations (such as towers, bridges and fountains). Private organizations must turn off their outdoor decorative lighting between 10 p.m. and 6 a.m. In Seoul and the surrounding area, weekly no-driving days increased the use of public transit about 5.8 percent in March as compared with February. Nationwide, average daily gasoline sales fell from 28.5 million barrels in the first two months of 2011 to 25.1 million barrels between March 1 and April 10, a decline of about 12.1 percent. To encourage the public to participate in the national efforts to conserve energy, MKE is taking the following steps:             * Released by the Energy Cooperation Division   date2011-05-12

Delegates Seek Clean Energy Partnerships at U.S.-Korea Energy Consultations

Working-level delegates from Korea and the United States gathered in Seoul last week to discuss the transition to a cleaner economy at the fourth U.S.-Korea Energy Consultations. Representatives of U.S. research institutions traveled to Korea to explore clean energy solutions such as carbon capture and storage, electric car batteries and clean coal. Nuclear energy, gas hydrates and smart grids were also addressed. The Consultations built on progress made last year at the first Clean Energy Ministerial in Washington, D.C.   As a result of the Consultations, a number of joint projects are under consideration between Korea and the United States. The two countries have already taken an important step in the area of smart grids: The Ministry of Knowledge Economy is collaborating with the State of Illinois on a pilot project to dramatically reduce energy consumption in Chicago’s skyscrapers.   * Released by the Energy and Resources Policy Division date2011-04-28

Clean Energy Ministerial Produces Action on Smart Grids

Minister of Knowledge Economy Choi Joong-Kyung traveled to Abu Dhabi to attend the second Clean Energy Ministerial earlier this month. Korea, Australia, Canada, France, Germany, Italy, Mexico and the United States signed an agreement that will strengthen the International Smart Grid Action Network (ISGAN). ISGAN is a mechanism for multilateral collaboration in which Korea has taken the lead. The network was launched at the first Clean Energy Ministerial in July 2010, and the new implementing agreement will ensure its operational efficiency and institutional stability. Through ISGAN, countries can actively share information about ongoing smart grid projects so as to ensure the interoperability of the technology. This will facilitate the wider adoption of renewable energy sources such as solar and wind power, which can be harnessed safely and effectively once the advanced power grids are in use. “Globally, many countries have their own smart grid projects in various stages,” Minister Choi said at the Ministerial. “Considering how complex the systems are, it is imperative that we share our knowledge and enhance cooperation.” The Clean Energy Ministerial involved government ministers from more than 20 countries, who gathered to review the progress of their efforts to disseminate clean energy and increase energy efficiency. ISGAN was one of 11 initiatives launched at last year’s meeting.   * Released by the Energy and Resources Policy Division   * For further information, please see the attached files. 1. Transcript of the Minister’s presentation 2. CEM 2011 Fact Sheet: International Smart Grid Action Network (Source: )   date2011-04-21