Ministry of Trade, Industry and Energy

Deputy Minister for Energy Policy Lee Ho-hyeon at the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea chaired the K-Grid Export Alliance (“Alliance”) kickoff meeting today at the Korea Trade Insurance Corporation (K-SURE) in Seoul, the first general meeting for the Alliance since its launch in December 2024, to seek new opportunities for homegrown businesses in the global power infrastructure market.

Since MOTIE announced its global power grid market strategy in December, the ministry has been consulting with related export supporting institutions to concretize measures for boosting exports in 2025. 

First, K-SURE plans to continue providing short-term preferential loans (up to double in limit) and insurance premium discounts (up to 20 percent) to transformer and power cable exporting businesses this year, while expanding the range of relevant export items to include energy storage systems (ESS). 

Moreover, the overseas trade shows for power grids and related equipment that had previously been dispersed under the charge of different institutions will be integrated under the central management of MOTIE and the Korea Electric Association (KEA) to produce more tangible outcomes by streamlining the process of company recruitment, promotion, and performance management.

Today’s meeting was attended by representatives of 15 companies and institutions, including Korea Electric Power Corporation (KEPCO), Korea Southern Power Co., Hyundai E&C, LS Electric, and KEA. They discussed export strategies in light of the newly emerging uncertainties as well as opportunities, such as the growing demand for artificial intelligence (AI) and datacenters, with an aim to propose a business model capable of meeting the complex needs of local overseas markets based on Korean companies’ expertise in EPC (engineering, procurement, construction) and manufacturing.

Deputy Minister Lee stated that the global power grid market offers Korea’s power industry a vital opportunity for further growth, adding that public and private sectors will make joint effort to establish the industry as the country’s next new model for energy cooperation.