Sung Yun-mo "ESS Investigation, Many Concerns... Watching Closely"

People attending this year's energy industry New Year's gathering at the Westin Chosun Hotel in Sogong-dong, Jung-gu, Seoul, at 5 p.m. on the 21st, shouting "Fighting." The tenth person from the right is Sung Yun-mo, Minister of Trade, Industry and Energy. (Photo by Moon Chae-seok)

[Asia Economy Reporter Moon Chaeseok] "The government is also deeply concerned and closely monitoring the situation. I believe we, as well as the companies, are all aware of it."

As the Energy Storage System (ESS) fire secondary investigation team's report is imminent, Sung Yun-mo, Minister of Trade, Industry and Energy, expressed a cautious response regarding the matter.

Minister Sung made these remarks on the 21st at 5 p.m. after the annual energy industry New Year's gathering held at the Westin Chosun Hotel in Sogong-dong, Jung-gu, Seoul, when speaking with reporters.

He stated, "These are topics everyone is discussing, and the government is also deeply concerned." He refrained from commenting when asked whether the government is actively mediating.

In his congratulatory speech at the gathering, Minister Sung reiterated his commitment to revitalizing the hydrogen economy. He said, "According to the hydrogen economy roadmap established last year, we will steadily expand related infrastructure such as hydrogen vehicles and charging stations. This year, we will focus on securing economic feasibility through hydrogen price reductions, revise relevant laws, and form a pan-governmental implementation organization to accelerate the development of the hydrogen economy."

The key theme of the gathering was 'energy transition.' Kim Kwang-sik, Chairman of the Korea Energy Foundation, said, "Efficient energy transition is necessary, and communication and coexistence within the industry are important. If the government, energy industry, political circles, and the public unite their efforts to lead change, we will have an opportunity to leap forward."

Corporate executives who gave toasts expressed somewhat general positions, pledging to respond to government policies. Cho Kyung-mok, President of SK Energy, said, "I believe companies must respond to the era's demand for clean and safe energy transition necessary for sustainable growth, as emphasized by Minister Sung. The demand sector is also striving to secure stable energy supply and develop eco-friendly energy systems despite challenges such as the US-China trade dispute and Middle East risks."

Jung Yeon-in, CEO of Doosan Heavy Industries & Construction, said, "We are making many efforts in line with the government's energy policies, but it is a reality that keeping up with many rapid changes is not easy. I hope the machines we produce will greatly contribute to domestic energy transition policies, and we will cooperate with the industry building the domestic energy ecosystem to create opportunities for growth."

The New Year's gathering hosted by the Korea Energy Foundation was attended by about 150 figures, including Minister Sung, Jung Jae-hoon, President of Korea Hydro & Nuclear Power, Kim Hoe-chun, Vice President of Management Support at Korea Electric Power Corporation, as well as private sector executives such as President Cho and CEO Jung, Hussein A. Al-Qatani, CEO of S-Oil, and Kang Dal-ho, President of Hyundai Oilbank.