Ministry of Trade, Industry and Energy

Vice Minister Celebrates Arbor Day

Vice Minister for Trade and Energy Park Young June (center) and energy company representatives plant a tree on April 5 to commemorate Arbor Day. The event symbolizes the government’s determination to address climate change and promote green growth. date2011-04-14

Korea Steps Up Energy Partnerships With Africa

Deputy Minister for Energy and Resources Kim Junggwan traveled to Angola and Ghana last week to reinforce Korea’s economic and energy ties with both countries. In January, government officials from the two African countries had visited Korea separately to discuss bilateral partnerships, and the Deputy Minister’s visit was a follow-up to those meetings. At a joint economic forum in Angola, Deputy Minister Kim praised the African country for its rapid economic development and its political stability. The forum gave Angolan delegates a chance to explain the infrastructure projects the country is planning; these include the development of oil fields and the establishment of a refinery. Angolans have rolled up their sleeves to modernize the country through the establishment of infrastructure; to complete this task, they will require technology and skilled personnel. The Deputy Minister emphasized that Korea is actively spearheading a number of training initiatives in order to share its advanced technology with developing countries. Such activities could form the basis for a close cooperative relationship between the two countries, he added. In Ghana the Korean delegates learned about the country’s national growth strategy, with particular focus on the establishment of social and energy infrastructure. Deputy Minister Kim met with Amarquaye Armar, Special Advisor to the President of Ghana on Energy Sector Reform, Restructuring and Privatization, to discuss possible joint projects involving the construction of a refinery and a gas pipeline in Ghana. The two sides also signed a memorandum of understanding on energy cooperation, a long-awaited move that followed several months of negotiations.   * Released by the Resources Development Policy Division   date2011-03-31

Korea, Poland Forge Nuclear Partnership

Vice Minister for Trade and Energy Park Young June recently traveled to Warsaw to discuss a potential nuclear partnership with Polish Commissioner for Nuclear Energy Hanna Trojanowska. The Korean delegation also included representatives of Korean energy businesses. Poland is looking to nuclear energy as a practical solution to diversify its energy sources and address climate change. Vice Minister Park noted that, in the face of higher oil prices and worsening environmental challenges, having a partner with vast expertise and knowledge of the nuclear industry would be a wonderful asset. On the same day, a business forum focused on possible joint projects involving renewable energy and the establishment of energy infrastructure in Poland. As a result of the free trade agreement that Korea and the European Union signed in October, Vice Minister Park emphasized that the two countries would enjoy many exciting opportunities to strengthen the bilateral relationship. As part of his weeklong trip to Eastern Europe, the Vice Minister also visited Romania and Bulgaria to forge stronger industrial and energy ties. * Released by the Europe and Americas Division   date2011-03-21

Korea, Poland Discuss Nuclear Cooperation

Vice Minister for Trade and Energy Park Young June (second from left) attended a seminar in Warsaw on March 11 to promote nuclear cooperation between the two countries. Vice Minister Park promised that Korea would help Poland establish a nuclear plant by sharing its expertise and knowledge. date2011-03-15

Vice Minister Meets With Polish Nuclear Official

Vice Minister for Trade and Energy Park Young June met with Polish Commissioner for Nuclear Energy Hanna Trojanowska in Warsaw on March 11. The discussion focused on bilateral cooperation to establish a nuclear plant in Poland. date2011-03-15

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

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

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

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

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