Ministry of Trade, Industry and Energy

Korea Takes Off With New Advanced Aircraft

With the new Smart Unmanned Air Vehicle, Korea has succeeded in becoming the second country in the world to develop tilt-rotor aircraft technology. The SUAV, developed by the Korea Aerospace Research Institute over nine years with government support, is capable of vertical takeoff and landing like a helicopter but can fly much faster. It will be used not only for military purposes but also to detect and extinguish forest fires and to monitor traffic, weather and environmental conditions.   KARI and the Ministry of Knowledge Economy showed images of the aircraft in flight at a presentation held November 30. The show drew about 200 people—military personnel, aviation experts, and members of the general public. MKE and KARI plan to carry out further tests to verify the vehicle’s maximum speed, endurance and operational range as well as its ability to avoid collisions.   This milestone is the outcome of intensive research and development to advance Korea’s avionics, data-link and flight control technologies. It proves that Korea is ready to enter the lucrative and growing international unmanned air vehicle market.   * Released by the Machinery, Aerospace and Defense Industries Division date2011-12-02

Korea and Japan Meet to Discuss Energy Cooperation

Korea and Japan Meet to Discuss Energy Cooperation Working-level officials from the Korean and Japanese governments met in the Gwacheon Government Complex last week to discuss energy policy and strengthen bilateral cooperation. It was the 16th meeting of its kind between the two countries, which share similar industrial structures and energy goals.   At the meeting, Korea discussed its plans to introduce the Renewable Portfolio Standard in 2012 and to generate 11 percent of the nation&rsqu date2011-11-28

Korea, China and Japan Discuss Industrial Cooperation at Annual Conference

Korea, China and Japan Discuss Industrial Cooperation at Annual Conference The 11th Annual Pan-Yellow Sea Economic and Technological Exchange Conference took place in Korea last week. More than 400 government and business leaders from Korea, China and Japan gathered to discuss how best to advance the region’s industrial structure. Experts and business leaders from the three countries discussed the need for greater competitiveness and a stable supply chain network in the components and mat date2011-11-25

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

Retail Sales Figures for October

date2011-11-18

Korea Shares Development Experience With Emerging Countries

Korea Shares Development Experience With Emerging Countries The Ministry of Knowledge Economy (MKE) launched a new program last week that will vitalize Korea’s efforts to share its development experience with emerging economies. Under the new program, MKE established a forum, which serves as a consulting body, consisting of experts from government-supported research institutions, public enterprises such as the Korea Electric Power Corporation (KEPCO), and private consulting firms. The for date2011-11-16

MKE Releases Car Sales Figures for October

MKE Releases Car Sales Figures for October The Ministry of Knowledge Economy has released its car sales figures for October. Thanks to steady exports Korea produced 414,574 vehicles, a 7.1 percent year-on-year increase. This was achieved despite unfavorable consumer sentiment and rising oil prices, which depressed domestic sales 8.8 percent to 121,564 vehicles. Sales of imported cars continued to grow, albeit at a slower pace of 8.9 percent year on year to 8,234 vehicles. Even amid uncertainty date2011-11-14