Ministry of Trade, Industry and Energy

Korea Hosts Green Energy Expo

Vice Minister for Trade and Energy Cho Seok stands with other leaders to mark the opening of the International Green Energy Expo and Conference in Daegu on March 28. The fair drew more than 100 government officials and CEOs from related industries. date2012-04-09

Vice Minister Meets With Qatari Energy Minister

date2012-03-15

Korea, Australia Hold Talks on Energy Cooperation

Korea and Australia shared information on energy policy and strengthened bilateral ties on energy and mineral resources last week. Oil, LNG and uranium were among the major discussion topics at the 26th annual meeting of the Joint Committee on Energy and Mineral Resources Consultations and Cooperation on February 22 in Seoul. Ms. Tania Constable, the head of the Resources Division within Australia’s Department of Resources, Energy and Tourism, led a 33-member Australian delegation that represented 19 institutions. Korea expressed its intention to import more Australian LNG and step up its efforts to help Australia develop its offshore oil fields. To promote the development of the clean and renewable energy sectors, the two countries also pledged to carry out joint research and personnel exchanges. As a country with abundant natural resources and a stable investment environment, Australia is one of Korea’s most important investment partners. Australia supplied 41.7 percent of the mineral resources Korea imported in 2010. As of June 2011 Korea had invested $2.84 billion in mineral resources in Australia, and Australia accounted for 30.4 percent of Korea’s investments in overseas mineral resources. * Released by the Southeast Asia and Oceania Division date2012-02-27

Korea, UAE Discuss Nuclear Energy

date2012-01-20

Korea Opens First Discount Gas Station

date2012-01-04

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