US-Korea Energy Ministers Meeting Held
Discussing Cooperation to Expand Clean Power Using Carbon-Free Energy and Carbon Reduction Technologies
South Korea and the United States have agreed to establish a regular public-private cooperation channel in the energy sector to jointly explore ways to expand cooperation opportunities between companies from both countries in the global market.
On the 9th, the Ministry of Trade, Industry and Energy announced that Minister An Deok-geun visited Washington D.C., USA, on the 7th and 8th (local time) and held the "Korea-US Energy Ministerial Meeting" with Jennifer Granholm, U.S. Secretary of Energy.
According to the Ministry of Trade, Industry and Energy, at this Korea-US Energy Ministerial Meeting, both countries sought ways to strengthen cooperation for carbon emission reduction and energy security enhancement, and discussed international cooperation measures on decarbonization in the industrial and power sectors.
To this end, the two countries agreed to establish a public-private partnership to maintain the cooperation channel. They also discussed regularly holding ministerial-level energy policy dialogues and clean energy public-private forums.
An official from the Ministry said, "Following the U.S. Inflation Reduction Act (IRA), companies from both countries in the battery, energy storage, hydrogen, and renewable energy sectors have been actively exchanging and seeking business expansion opportunities," adding, "With plans to expand renewable energy such as offshore wind power and the expected growth of the power equipment market including ultra-high voltage transmission networks to expand power grid infrastructure, the regular cooperation channel between the two countries is expected to become even more meaningful."
Additionally, Minister An shared that South Korea, as the chair of the Asia-Pacific Economic Cooperation (APEC) in 2025, is reviewing the plan to "expand clean power within the APEC region through the utilization of carbon-free energy technologies such as nuclear power, renewables, and hydrogen" as a key agenda item, and requested the interest and support of the U.S. side. They also discussed international cooperation measures on sustainable future fuel use for industrial decarbonization and carbon capture, storage, and removal technologies for carbon reduction.
Minister An stated, "In a situation where building a stable clean energy supply chain among like-minded countries is intensifying, the strategic and comprehensive clean energy partnership between allied countries South Korea and the United States is more important than ever," adding, "Through the strong Korea-US alliance, we hope to contribute to responding to the global climate crisis, establishing a stable energy supply chain, and strengthening energy security, while the cooperation platform between the two countries will discover business cooperation opportunities between companies, serve as a stepping stone for expanding investment, and lead the global clean energy market."
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