Launch of Energy Organization Policy Council... Exploring Cooperation Between Government and Public-Private Sectors

The Energy Industry Policy Council, led by major energy industry associations and organizations, has officially begun its activities.

On the 9th, Choi Nam-ho, the 2nd Vice Minister of the Ministry of Trade, Industry and Energy, attended the first regular meeting of the Energy Industry Policy Council.

The council, launched on this day, is a policy consultative body composed mainly of major associations and organizations, established following the need for a representative organization encompassing the energy industry raised at the energy industry associations meeting held in October last year. Fifteen associations and organizations participate, including the Korea Independent Power Producers Association, Korea New and Renewable Energy Association, Korea Hydrogen Fuel Cell Industry Association, Korea Gas Union, and Korea Nuclear Industry Association.

The council plans to hold regular monthly meetings to present industry difficulties and policy alternatives regarding current issues in the energy industry, and to develop cooperation measures between the government and the public-private sectors. Based on the results of its operations, it will also consider establishing the 'Energy Industry Federation (tentative name),' a representative organization for the energy industry, in the future.

Korea's economy showed a 0.6% contribution to growth from net exports in the first quarter, and despite increased imports in April, recorded a trade surplus due to export growth, demonstrating a structure where exports drive economic growth. Considering this, there is a growing need to create new export engines to sustain the high growth rate of Korean exports. In this context, the energy industry is attracting attention as a new export industry, as the energy market size and investment are expected to expand significantly due to carbon neutrality and strengthening energy security. Therefore, at the first regular meeting held on this day, the current export status of Korea's energy industry and industry difficulties were reviewed, and support directions for export activation were discussed intensively.

Vice Minister Choi said at the meeting, "To turn the global energy market transformation into an opportunity for our energy industry, it is important for the public and private sectors to work together," adding, "The government will spare no support to make the energy industry an export engine, including overseas expansion through international cooperation projects, securing track records, and supporting market development."