Ministry of Trade, Industry and Energy

MOTIE and KORAD call for site proposals for underground high-level radioactive waste research facility

The Ministry of Trade, Industry and Energy (MOTIE) and Korea Radioactive Waste Agency (KORAD) are calling for site proposals for underground facilities for high-level radioactive waste research beginning June 18 in accordance with the radioactive waste management technology development measures specified in the Korean government’s second high-level radioactive waste management basic plan (December 2021) and the High-Level Radioactive Waste R&D Roadmap (February 2024).   The underground research facilities are for conducting studies on Korea’s rock mass properties and disposal system performance at 500m underground, at a depth similar to that of disposal facilities. The research facility will be built at a site entirely separate from high-level radioactive waste disposal facilities, without admitting any radioactive waste or used nuclear fuel inside the area, and is for only research purposes. The U.S., Germany, Sweden, Switzerland, Canada, Belgium, France, and Japan have in the past operated or are currently operating such facilities in their territories.   The focus of the research facilities will be on specialized manpower training and development of disposal technologies suitable for the domestic geological environment, while also providing the general public the opportunity to experience an environment quite similar to that of a high-level radioactive waste disposal facility. Technologies developed in the facility will be utilized in the process of site selection, construction, and management of the high-level radioactive waste disposal facility upon the legislation of the Special Act on High-Level Radioactive Waste Management.   For siting, a site evaluation committee under KORAD will evaluate the site proposals submitted by local governments in terms of geological suitability and such eight criteria with aim to complete the selection process by the end of the year. Construction is to commence in 2026 with completion targeting 2032, and the operation period is approximately 20 years starting from 2030.   MOTIE and KORAD are holding a briefing on June 25 to explain the site selection process to interested local government bodies. Letters of intent and site proposals, respectively, must be submitted by July 19 and August 2, to KORAD. date2024-06-18

Vice Minister visits Haengwon Green Hydrogen Demonstration Complex

Trade, Industry and Energy Vice Minister Namho Choe visited the Haengwon Green Hydrogen Production Facility and the Hamdeok Green Hydrogen Charging Station on June 17 on Jeju Island to see and experience firsthand the first commercialized domestic model of green hydrogen. date2024-06-18

Hydrogen experts gather on Jeju Island for Green Hydrogen Global Forum 2024

The Ministry of Trade, Industry and Energy (MOTIE) and Jeju Special Self-Governing Province are hosting the Green Hydrogen Global Forum 2024 through June 17–19 at the International Convention Center (ICC) on Jeju Island to share clean hydrogen trends and policies and to facilitate discussions on cooperation measures.   Launched in 2023, this year’s Forum draws 400 participants from various countries, including Germany, Norway, and Denmark, composed of hydrogen experts and key government figures and ambassadors. James F. Miller, a senior scientist in the Energy Systems and Infrastructure Analysis division at U.S.’ Argonne National Laboratory, and Marco Alverà, the author of "The Hydrogen Revolution,” gave keynote speeches at the opening ceremony, followed by the “Leadership Dialogue” program.   The second day of the Forum will continue with discussions on measures for establishing the life cycle of clean hydrogen—production, storage, transport, and utilization—as well as sector coupling strategies for invigorating the accommodation of distributed energy resources, such as the conversion of surplus renewable energy to hydrogen.   The last day of the Forum will have members of the general public visit the Haengwon Green Hydrogen Production Facility and the Hamdeok Green Hydrogen Charging Station on the island by bus to see and experience firsthand the first commercialized domestic model of green hydrogen.   In his opening message, Vice Minister Namho Choe stated that “International cooperation and solidarity are key to realizing a clean hydrogen-based hydrogen economy,” and added that he looked forward to seeing the different countries’ governments and global experts take part in the vigorous information exchange and seek measures for mutual cooperation. date2024-06-18

Korea and Japan hold 1st Hydrogen Cooperation Dialogue meeting

Director General for Hydrogen Economy Policy Park Chan-ki and Hiroo Inoue, Director General for Energy Efficiency and Renewable Energy Department at Japan’s Economy, Trade and Industry Ministry (METI), held the first Korea-Japan Hydrogen Cooperation Dialogue meeting on June 14 in Seoul with the participation of eleven related institutions, including Korea’s H2KOREA, Korea Electric Power Corporation (KEPCO), and Korea National Oil Corporation (KNOC), and Japan’s JH2A, Clean Fuel Ammonia Association (CFAA), and Japan Organization for Metals and Energy Security (JOGMEC).   The meeting was held as a follow-up to the agreement made during the Korea-Japan summit talks this May for strengthening hydrogen cooperation, as well as part of bilateral efforts on clean energy areas as discussed at the summit talks at Stanford University, U.S., in 2023.   Both sides shared their recent respective hydrogen policy developments, including the Hydrogen Society Promotion Act that Japan passed on May 17 and the Clean Hydrogen Power Bidding Market that Korea launched on May 24, and agreed to deepen cooperation in clean hydrogen and hydrogen compounds to achieve the nationally determined contributions (NDCs) and secure energy security.   To note, the two countries’ hydrogen related institutions are to form working groups on carbon intensity and certification; standards and criteria; and a safety working group to work out the details for cooperation and to continue discussions on installing additional working groups in the future.   Furthermore, the two sides agreed on the importance of the Korea-Japan business cooperation for diffusing the hydrogen economy ecosystem and expanding joint efforts on the global clean hydrogen supply chain, and decided to seek ways for bilateral private-led hydrogen supply chain cooperation. date2024-06-14

Korea and Kazakhstan to spur synergy in critical minerals, energy, and manufacturing

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 13 that the Korea International Trade Association (KITA) and Samruk Kayzana, Kazakhstan’s sovereign wealth fund, co-hosted the Korea-Kazakhstan Business Forum on June 12 in Astana. The Forum drew approximately 300 persons, including the Korean economic delegation and both countries’ entrepreneurs, and facilitated discussions on bilateral cooperation in critical minerals, energy, trade, investment, finance, new industries, and consumer goods.   MOTIE’s Minister Dukgeun Ahn and Kazakhstan’s Industry and Construction Minister Kanat Sharlapaev attended the memorandum of understanding (MOU) signing ceremony for the inking of 24 private sector MOUs. Five of them were signed in the energy area for combined cycle power plants, renewable energy plants, power grid modernization, small modular reactors (SMRs), and gas treatment plants.   For critical minerals, Korea Institute of Geoscience and Mineral Resources (KIGAM) and SK Ecoplant entered an MOU with the Kazakh Ministry of Industry and Construction on joint lithium mining exploration and development. KIGAM anticipates tangible outcomes, having confirmed the existence of a lithium deposit through lithium mining exploration in tandem with a local Kazakh research institution.   The two countries further concluded MOUs in areas like automobile industry-academia talent nurturing and elevator R&D park establishment (5 MOUs); healthcare and new industries (3 MOUs); and financial assistance (2 MOUs), laying the groundwork for mutual collaboration at the government, public institution, and private sector level. date2024-06-13

Korea and Kazakhstan to expand cooperation in supply chains and electric power sectors

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 12 that MOTIE signed three memorandums of understanding (MOUs) with the Kazakh government for cooperation in the critical minerals supply chain, electric power industry, and regarding their joint economic commission on the margins of President Yoon Suk Yeol’s state visit to Kazakhstan and summit meeting with Kazakh President Kassym-Jomart Tokayev on June 12 in Astana.   First, through the MOU on the critical minerals supply chain, the two countries agreed to increase people exchanges as well as cooperation for each stage of the value chain, including joint geophysical exploration, development, refining and smelting of critical minerals for manufacturing electric vehicles (EVs), semiconductors, and alloy sheets, such as lithium, chromium, manganese, rare earth elements, and uranium. The two sides decided to launch a supply chain dialogue on the occasion of the summit and to continue discussing concrete cooperation measures among related research institutions, companies, and financial institutions.   Moreover, they signed an MOU for cooperation in electric power to enhance the two countries’ people exchanges and collaboration in the power sector. As the Kazakh government is pushing to expand the renewable energy mix ratio, transition from coal-fired power to gas-fired combined cycle power, upgrade old power plants’ energy efficiency, and convert to eco-friendly systems, Korean companies with competitiveness in these areas can look forward to future project opportunities.   Meanwhile, following the Trade and Investment Promotion Framework (TIPF) sealed last October, the two countries also established the basic framework for bilateral trade, investment, and economic cooperation through the joint Trade-Economic and Scientific-Technical Cooperation Commission MOU. date2024-06-13

MOTIE gives briefing on World Climate Industry Expo 2024

The Ministry of Trade, Industry and Energy (MOTIE) gave a briefing on the World Climate Industry Expo 2024 (WCE 2024) to the foreign embassies in Korea on June 12 in Seoul and explained the expo’s main programs and the need for utilizing carbon-free energy sources.   MOTIE will be co-hosting WCE 2024 with the International Energy Agency (IEA) from September 4–6 under the theme of “Ushering in a Carbon-Free Energy Era with Climate Technology” and 12 climate and energy related ministries are currently in preparation for the global event.   Based on the shared understanding on the need for extensive utilization of carbon-free energy sources, the Korean government and the IEA are calling for participation of countries and international organizations by distributing letters of invitation and promotion material via overseas missions.   The briefing was attended by the representatives of 50 embassies, including those from the U.S., EU, Denmark, and Australia. Carbon Free (CF) Alliance Secretary General Yang Euyseok noted that international consensus is building up, as seen in the agreement concluded at the COP28 UN Climate Change Conference declaring carbon-free energy technologies in nuclear power, hydrogen, carbon capture and storage (CCUS), and renewable energy as means of carbon reduction. He added that a global working group will be formed for establishing Carbon Free Energy (CFE) implementation and international standards.   WCE 2024 is to host 11 conferences via three summits (CFE, industry/technology, climate) and will showcase the latest future technologies on carbon-free energy at exhibition booths of global companies like Samsung, LG, Hyundai Motor, and RWE. date2024-06-12

Korea and Chile hold Critical Minerals Business Roundtable

Trade, Industry and Energy Vice Minister Namho Choe met with Chile’s Mining Minister Aurora Williams on June 11 in Seoul and held a Korea-Chile critical minerals business roundtable to discuss cooperation in critical minerals like lithium and copper. date2024-06-12

Korea and Chile hold critical minerals business roundtable

Trade, Industry and Energy Vice Minister Namho Choe met with Chile’s Mining Minister Aurora Williams on June 11 in Seoul to discuss cooperation in critical minerals like lithium and copper and held a Korea-Chile critical minerals business roundtable on the sidelines to facilitate information sharing for Korean firms seeking to enter the Chilean market.   The Korea-Chile roundtable is a follow-up to the Korea-Chile Resource Cooperation Committee meeting held this May to strengthen private sectors’ cooperation in critical minerals. The Committee meeting was held after a 12-year hiatus to activate intergovernmental discussions on lithium salt flat development procedures, tailings recycling, and lithium extraction technology cooperation.   Participating in the roundtable were Korean companies interested in energy transition and eco-friendly projects, including EcoPro Innovation, SK enmove, Korea Zinc, LS MnM, LX International, POSCO Holdings, and Hyundai Motor. They discussed key issues and made suggestions and requests to the Chilean government, which introduced its critical minerals policies and investment procedures.   Vice Minister Choe remarked that the bilateral business roundtable, held on the heels of the Resource Committee meeting, has helped bolster the two countries’ critical minerals supply chain cooperation a step further and asked for continued effort of their governments on tailings recycling and lithium extraction technology, and of companies concerning Chile’s supply chain diversification of lithium, copper, and other critical minerals. date2024-06-11

Korea and Malaysia to kickstart CCS cooperation

Director General for Energy Policy Choi Yeon-woo met Malaysia’s Deputy Secretary General for the Ministry of Economy Luqman Ahmad on June 10 in Seoul to discuss carbon capture and storage (CCS) cooperation between the two countries.   The meeting between the Korean and Malaysian CCS policy officials was arranged on the occasion of their participation in the Shepherd CCS Summit, organized by Samsung E&A.   Addressing the importance of CCS in achieving the nationally determined contributions (NDCs), Director General Choi requested the Malaysian Economy Ministry’s active support and interest towards establishing the public-private joint Shepherd CCS Project as a global anchor project.   Both sides agreed on the need for a bilateral agreement on cross-border transport and storage of CO2 between the two countries and decided to further intergovernmental discussions while factoring in the two countries’ institutional conditions, as well as related international rules and agreements.   During the presentation session, Korea and Malaysia’s government officials called attention to CCS policies to the participating representatives of the two countries' industries, academia, and research institutes. MOTIE introduced Korea’s CCS industry nurturing policy and highlighted plans for securing key technology and talents, nurturing specialization companies, creating markets early on by securing domestic and overseas storage sites, and fostering a sustainable ecosystem. date2024-06-10