Regularization of Alliance and Cooperation Forums... Specific Support Measures Including the 'Innovative Company Verification System'
[Asia Economy Reporter Moon Chaeseok] The Ministry of Trade, Industry and Energy announced on the morning of the 18th that it held the '1st Energy Innovation Companies Solidarity and Cooperation Forum' at the Federation of Korean Industries building in Yeongdeungpo-gu, Seoul, with participation from energy innovation companies, large corporations, venture capital, and related organizations.
The event was attended by Joo Young-jun, Director General of the Energy Resources Office at the Ministry of Trade, Industry and Energy, representatives from institutions such as the Korea Energy Technology Evaluation Institute, Korea Energy Agency, Korea Exchange, and corporate officials from Hyundai Motor Company, GS, SK Gas, among others.
The forum was organized with the purpose of discussing cooperation measures among related institutions in the new energy industry to implement the 'Energy Innovation Companies Support Strategy' announced by the Ministry in September.
The event focused on 'promoting investment' in response to paradigm shifts in the energy industry such as the Green New Deal and carbon neutrality, emphasizing cooperation models between large corporations and innovation companies, and venture capital investment in innovative companies.
Kim Sung-woo, Director of the Environment and Energy Research Institute at Kim & Chang, presented on the topic of 'Global Transformation and the Direction of Change for Energy Companies,' discussing global companies' strategies for climate change and worldwide trends in sustainable management (ESG) investment.
Following this, Yoon Seok-hwan, Head of the CVC Team at Hyundai Motor Company, proposed cooperation measures in the new energy industry sector, and Kim Ki-yong, Team Leader of the Corporate Technology Listing Department at Korea Exchange, explained 'KOSDAQ listing and technology special listing for energy technology companies.' Jung Se-hong, Deputy General Manager at Songhyun Investment, gave a presentation focusing on 'Venture Capital’s Investment Direction and Cases in Energy Companies.'
A panel discussion on 'Cooperation Measures for Growth and Investment Expansion of Innovative Companies' was also held. Participants emphasized that "in a rapidly changing energy industry paradigm, expanding private investment in innovative companies is crucial," and requested regulatory reforms and continuous government support for the commercialization of new products and services.
Director Joo stated, "Innovative companies are the key players in the success of the Green New Deal and achieving carbon neutrality," adding, "We will promote the establishment of communication systems to discover cooperation models, prepare value evaluation standards for new energy technologies to encourage private investment, utilize policy financial instruments, and identify regulatory sandbox and pilot project initiatives."
Meanwhile, following the solidarity and cooperation forum, an 'Energy Innovation Companies Investment Briefing (IR)' will be held in the afternoon with the participation of eight promising innovative companies. The briefing will include eight innovation companies in the fields of renewable energy, energy efficiency, and materials, parts, and equipment, along with the Korea Development Bank, and over 30 venture capital firms and large corporations.
An official from the Ministry of Trade, Industry and Energy said, "We plan to regularize the Energy Innovation Companies Solidarity and Cooperation Forum to actively support the growth of innovative companies through it," adding, "We will form 'subcommittees' by promising sectors to directly discover research and development (R&D) projects and concretize support measures such as the excellent innovation company certification system."
He continued, "Through investment briefings and investment roundtables, we will create opportunities for large corporations and financial institutions to actively invest in innovative companies and the new energy industry."
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