Sung Yun-mo, Minister of Industry, "This Year's Energy Transition Policy Will Deliver Tangible Results to the Public"

The person on the right is Sung Yun-mo, Minister of Trade, Industry and Energy. / Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Moon Chaeseok] Sung Yoon-mo, Minister of Trade, Industry and Energy, reaffirmed his intention to achieve concrete results in the government's energy transition policy this year that the public can actually feel.

On the 21st, Minister Sung is scheduled to announce this at the energy industry's New Year's gathering of the year, which will be held from 5 p.m. at the Westin Chosun Hotel in Sogong-dong, Jung-gu, Seoul. About 150 people, including Minister Sung, executives from public and private energy companies, associations, and organizations, will attend the gathering.

In his congratulatory speech, Minister Sung evaluated that the government steadily promoted energy transition last year and achieved remarkable results. Renewable energy facilities newly installed reached 3.47GW, about 1.5 times the distribution target of 2.4GW.

Regarding fine dust from coal power generation, 1,192 tons (based on PM 2.5) were emitted in December last year, a high concentration period, reducing emissions by 37% compared to 1,905 tons in the same month a year earlier.

Last year marked the first year of the hydrogen economy, with achievements such as Hyundai Motor Company becoming the global leader in hydrogen vehicle sales and the establishment of 20 hydrogen charging stations, setting the world's highest annual record.

In the renewable energy industry, solar cell exports increased by 85%, from $68 million in the first half of 2018 to $126 million in the first half of last year.

Minister Sung is expected to express his determination to establish an eco-friendly energy system this year. By formulating the 9th Basic Plan for Electricity Supply and Demand, a reduction plan for coal power generation will be prepared to significantly reduce greenhouse gases and fine dust.

Renewable energy plans to secure both environmental performance and acceptability through the introduction of a planned site system and expansion of recycling for waste modules.

Efforts will be made to build an advanced energy consumption structure by piloting voluntary energy efficiency target systems and legislating mandatory efficiency improvement systems for energy suppliers.

A mid- to long-term policy roadmap will be established to expand distributed energy system power sources near demand sites such as fuel cells, combined heat and power, and solar power. Seventeen metropolitan local governments nationwide will simultaneously participate in the planning.

There are plans to firmly nurture new energy industries. Systematic support measures for fostering the hydrogen economy will be prepared, including revising subordinate regulations of the Hydrogen Act and forming a pan-government implementation promotion organization. The smart grid experience and energy industry convergence complex will be actively promoted.

Safety will also be emphasized. Safety management systems for new energy facilities such as gas pipelines, heat transport pipes, underground buried facilities, electricity, gas, hydrogen, and energy storage systems (ESS) will be improved to strengthen daily life safety.

To ensure stable energy supply, efforts will be made to diversify import sources and strengthen capabilities to respond to sudden supply crises by establishing an integrated oil supply control system.

Minister Sung said, "Above all, the most important thing is to supply energy safely and stably under any circumstances," and urged, "Both the government and industry should make every effort to ensure there is no disruption in energy supply and demand, and do their best to manage facility safety during the winter, when energy consumption is high."