Ministry of Trade, Industry and Energy

Korea-Saudi Business and Investment Forum

Korea’s Deputy Minister for Trade Park Jong-won attended the Korea-Saudi Business and Investment Forum on May 9 in Seoul and gave a congratulatory address to approximately 250 participants composed of Korean and Saudi government officials and related institutions. date2025-05-12

Korea opens hydrogen power bidding market for 2025

Korea’s Ministry of Trade, Industry and Energy announced that the hydrogen power bidding market for 2025 opens today. The hydrogen power bidding market is a system for purchasing and supplying electricity generated using hydrogen or hydrogen compounds as fuel. It is divided into clean hydrogen power and general hydrogen power categories, depending on the type of fuel used. Only power facilities using fuels that meet Korea’s clean hydrogen certification standard (greenhouse gas emissions of 4 kg CO₂e or less per 1 kg of hydrogen) are eligible to participate in the clean hydrogen power bidding market. The clean hydrogen power bidding market is aimed at reducing greenhouse gas emissions through power generation using carbon-free clean hydrogen. For 2025, the bidding volume is 3,000 GWh/year (equivalent to the annual electricity consumption of approximately 850,000 households), with a contract period of 15 years. Power generation must begin by 2029 after a three-year preparation period (with a one-year grace period in consideration of the program’s initial phase). Final bidders will be selected around November based on a comprehensive evaluation of both pricing and non-pricing factors, including bid price, clean hydrogen grade, fuel supply stability, and industrial and economic contribution. Notably, this year’s clean hydrogen power bidding market will introduce two new mechanisms that have been consistently requested by the industry: an exchange rate-linked settlement system and a hydrogen volume borrowing system. Until now, settlements in the clean hydrogen power bidding market were based on fixed prices in Korean won, placing the burden of won-U.S. dollar exchange rate fluctuations on project developers. Starting this year, however, power prices will be linked to the exchange rate at the time of settlement, which is expected to mitigate business risks associated with currency fluctuations. In addition, alongside the existing hydrogen volume carryover system (which allows unused volumes from the current year to be carried over to the following year), a new borrowing system has been introduced, enabling the use of the next year’s allocated hydrogen volume in advance. This improvement is expected to provide greater flexibility in responding to situations where fulfillment of the contracted generation volume is rendered difficult due to scheduled preventive maintenance and such circumstances. The general hydrogen power bidding market, aimed at promoting the deployment of decentralized power sources, will offer 1,300 GWh/year in bidding volume in 2025, with a 20-year contract period. Power generation must begin by 2027 after a two-year preparation period. Final bidders will be selected around August through a comprehensive evaluation of pricing and non-pricing factors, including power system impact and industrial and economic contribution. The bid announcement and more detailed information will be available on the hydrogen power bidding market website of Korea Power Exchange (kchps.kmos.kr) starting at 5:00 p.m. on May 9 (KST). date2025-05-09

Korea-Czech nuclear reactor cooperation arrangement

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn and Czech Minister of Industry and Trade Lukáš Vlček signed a Korea-Czech nuclear reactor cooperation arrangement on May 7 in Prague in the presence of Czech Prime Minister Fiala and both countries’ government delegations. date2025-05-09

Minister Ahn meets Czech Prime Minister Petr Fiala

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met Czech Prime Minister Petr Fiala on May 7 in Prague with both countries’ government delegations and discussed cooperation in industry, energy, construction, infrastructure, and science technology. date2025-05-09

Korea and Saudi Arabia broaden cooperation to new and cutting-edge industries

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is sponsoring the Korea-Saudi Business and Investment Forum launched today in Seoul. The forum is anticipated to catalyze economic cooperation between the two countries across new and cutting-edge areas like digital, advanced manufacturing, clean energy, healthcare, and culture. Part of an aim to strengthen Korea-Saudi partnership in line with the Saudi Vision 2030, the forum brings together 250 business leaders of both countries to seek collaboration and tangible opportunities around promising new industries such as IT, advanced manufacturing, clean energy, special zone development, healthcare, and entertainment. Participating in today’s event are a total of 120 Korean and Saudi companies including Saudi Telecom Company (stc), Saudi Arabian Military Industries (SAMI), and Saudi’s first EV manufacturer Ceer, as well as Korean firms either engaged in ongoing cooperation with Saudi partners or seeking new business opportunities. Deputy Minister for Trade Park Jong-won attended the forum and gave a congratulatory message, stating that the Korean government will actively leverage intergovernmental cooperation channels while also advancing efforts for the Korea-GCC FTA’s swift entry into force to expand the scope of business cooperation between the two countries.   date2025-05-09

Czech nuclear reactor project localization agreement ceremony

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn attended the Czech nuclear reactor project localization agreement ceremony on May 7 in Prague with Czech Minister of Industry and Trade Lukáš Vlček and other leaders of both countries' governments and businesses. date2025-05-09

41st APEC Automotive Dialogue launches on Jeju Island

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that the 41st APEC Automotive Dialogue (AD) will convene through May 9–10 at the International Convention Center Jeju (ICC Jeju) on the sidelines of the APEC Second Senior Officials’ Meeting and Related Meetings (SOM2). The APEC AD is a public-private forum for the sharing of major policy issues and industrial trends among APEC members’ governments and auto industries to seek measures for cooperation. Launched in 1999, it serves as APEC’s major communication channel on diverse automotive areas spanning electric mobility, autonomous driving, and trade. As Korea is the chair of APEC 2025, MOTIE and the Korea Automobile Manufacturers Association (KAMA) are co-chairs of this year’s AD, held with the participation of 16 member economies including Chile, China, Japan, and the U.S. Key agendas address automobile industry and market trends, EV transition, autonomous driving and AI technology, and future mobility. During the event, Korea will present on core issues with regard to future mobility transition including EV architecture innovation, battery recycling, hydrogen mobility and fuel cell technology, and purpose-built vehicles (PBVs). It is anticipated that the discussions will strengthen cooperation among member countries and facilitate exchanges on industrial technologies and policy trends.   date2025-05-09

MOTIE holds APEC Sustainable Supply Chain Forum

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is hosting the APEC Sustainable Supply Chain Forum today at the International Convention Center Jeju (ICC Jeju) to seek strategic measures at the APEC-level to strengthen global supply chain sustainability and resilience through sharing of public-private cooperation measures with the participation of the APEC Committee on Trade and Investment (CTI) and various experts representing APEC members’ governments, industries, and research institutions. The forum consists of presentation sessions and a panel discussion. The first session addresses the conceptual transition of the supply chain’s focus from efficiency to sustainability and resilience. The second session introduces best practices against major challenges that private sectors face in the process of building sustainable supply chains. The third session covers strategic approaches for sustainable supply chain cooperation among APEC members. In the following panel discussion, participants will be exchanging views and concrete measures for cooperation on establishing global supply chains within the APEC region. Through this forum, MOTIE aims to lay down a foundation on which domestic companies can preemptively respond to realignments in the global supply chain based on sustainability and resilience. Forum outcomes will also be incorporated in developing future policy directions.   date2025-05-09

U.S. CEBA officially joins CFE Initiative

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that the Clean Energy Buyers Association (CEBA) officially declared its participation in the Carbon Free Energy (CFE) Initiative. CEBA is the largest U.S. organization representing clean energy customers, consisting of over 400 members including global tech giants like Apple, Microsoft, Amazon, and Google. On May 6 (local time) in Minnesota, U.S., the Carbon Free (CF) Alliance and CEBA entered a memorandum of understanding (MOU) for bilateral cooperation on the CFE Initiative. The MOU signing ceremony was held on the occasion of former IPCC chair and CF Alliance Chairman Hoesung Lee’s attending the CEBA Connect: 2025 Spring Summit, CEBA’s major annual event. With the signing of the MOU, CEBA will represent the U.S. private sector in participating in the CFE Global Working Group and joining the CF Alliance’s efforts to establish global CFE certification standards including the definition and scope of carbon-free energy as well as measures for verifying and certifying carbon credit. CEBA’s participation expands the CFE Global Working Group’s membership to seven, in addition to Korea, Japan, the United Arab Emirates (UAE), the Czech Republic, International Energy Agency (IEA), and the Clean Energy Ministerial (CEM). Based on this MOU, the CF Alliance and CEBA have agreed to closely cooperate across diverse areas with the aim of promoting the diffusion of carbon-free energy sources, through convening joint international conferences on an annual basis and engaging in technology and policy information exchanges. The CFE Initiative has so far gained the support of major countries and organizations such as Japan, the UK, France, and IEA. In October last year, it launched the CFE Global Working Group in which international public and private experts are currently taking part. A number of organizations like the United Nations (UN), IEA, and Asia-Pacific Economic Cooperation (APEC) have also expressed support, and consensus is growing across the international community on the need to harness various carbon-free energy sources. Companies at home and abroad are in support of the CFE Initiative as well, based on the grounds of it being relatively more inclusive, cost-effective, and technology-neutral compared to other similar initiatives. It is also considered more business-friendly with respect to scalability in developing countries and its recognition of Scope 1 emission reduction.   date2025-05-08

Korea and Czech Republic deepen comprehensive economic cooperation

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn held talks with Czech Prime Minister Petr Fiala and President of the Senate Miloš Vystrčil, respectively, on May 7 on the occasion of the visit to the Czech Republic made by Korea’s special delegation composed of government delegates and National Assembly representatives. The two sides discussed measures for comprehensive economic cooperation and entered a total of 14 memorandums of understanding (MOUs) in nuclear energy and high-tech industry areas. First, Minister Ahn and the government delegation visited Czech Prime Minister Fiala to discuss wide-ranging cooperation across industries, energy, construction, infrastructure, and science technology. In the presence of Prime Minister Fiala, Minister Ahn and Czech Minister of Industry and Trade Lukáš Vlček signed a Korea-Czech nuclear reactor cooperation arrangement, building on the MOU forged previously in September 2024. The two countries’ governments will be making joint effort for the success of the Dukovany power plant project as well as collaboration on the additional order of two reactor units and Korea-Czech joint entry into third countries. Minister Ahn and Minister Vlček also inked a Korea-Czech battery cooperation MOU for stronger joint response going forward regarding the EU Battery Regulation. Furthermore, Minister Ahn and Minister Vlček discussed cooperation in nuclear energy and high-tech industry areas including batteries and automobiles. In the presence of both ministers, Korea Hydro & Nuclear Power (KHNP) and other members of Team Korea sealed 10 MOUs with Czech companies for cooperation on the Czech nuclear reactor project. In addition to widening the scope of collaboration in nuclear energy, Korea and the Czech Republic are also aiming to deepen strategic cooperation in high-tech industries. In line with implementing the Vltava Advanced Industries Cooperation Vision announced on September 20, 2024, the two sides signed a letter of agreement on the establishment of an automotive cooperation center and a robotics cooperation center, raising anticipation for enhanced collaboration in R&D, talent training, and demonstration projects. Meanwhile, Korea’s National Assembly members and government delegates met Czech President of the Senate Miloš Vystrčil for lawmaker-level discussions on extensive cooperation between the two countries in areas spanning nuclear reactors, high-tech industries, energy, and construction. In view of this year marking the 35th anniversary of diplomatic ties and the 10th anniversary of the strategic partnership between Korea and the Czech Republic, Minister Ahn noted that the two countries have further solidified their trust relationship and stated that efforts will be made to closely communicate with the Czech authorities so as to finalize the new reactor contract as soon as possible.   date2025-05-08