Ministry of Trade, Industry and Energy

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

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