Announcement of Measures to Strengthen the Competitiveness of the Renewable Energy Industry Within This Year
Ho Hyun Lee, the 2nd Vice Minister of the Ministry of Trade, Industry and Energy, is attending and speaking at the Summer Power Supply Preparation Status Inspection Meeting held on the 8th at the KEPCO Art Center in Seocho-gu, Seoul. On that day, the highest daytime temperature in Seoul exceeded 36 degrees Celsius, marking the highest temperature recorded this year. 2025.7.8 Photo by Cho Yongjun
The government has announced that it will introduce measures to strengthen the competitiveness of the domestic renewable energy industry, including solar power, within this year. Attention is focused on whether new opportunities will open up for domestic renewable energy supply chain companies, which have been struggling due to competition from Chinese products. Regarding the recent security issues raised over Chinese-made inverters, the government has decided to enhance certification standards.
On August 1, the Ministry of Trade, Industry and Energy held a 'Solar Power Manufacturing Companies Meeting' at the Korea Chamber of Commerce and Industry in Seoul, presided over by Second Vice Minister Lee Hohyun.
This meeting was organized to share domestic and international industry trends with companies facing difficulties due to global oversupply, to listen to their challenges, and to seek ways to support them. The ministry plans to establish a 'Renewable Energy Industry Competitiveness Enhancement Plan' within this year, reflecting the discussions from this meeting, industry feedback, and expert reviews.
On this day, Vice Minister Lee Hohyun stated, "A successful transition to renewable energy can only be achieved when both supply and growth move forward together," and added, "The government plans to create stable public demand, and I ask companies to continue investing in technology development and strengthening the domestic supply chain with trust in the government."
The meeting was attended by representatives from a total of eight solar power manufacturing companies, including Hanwha Solutions, HD Hyundai Energy Solution, OCI Power, and Dasstech, as well as related organizations such as the Korea Photovoltaic Industry Association, Korea Energy Agency, and Korea Institute of Energy Technology Evaluation and Planning.
The participating companies suggested the following: ▲prioritizing the use of domestic products in public projects, ▲expanding budgets for next-generation technologies (such as tandem cells), ▲providing tax benefits and subsidies for domestically produced products, and ▲strengthening the carbon verification system and expanding incentives for low-carbon products.
The government plans to expand the renewable energy budget to which the carbon certification system, which favors low-carbon products, is applied, so that government support leads to the purchase of eco-friendly products. In addition, through research and development (R&D) support, the government will assist in the development and commercialization of high-efficiency, high-reliability premium products for core solar power components and equipment.
Furthermore, to strengthen the security of solar power inverters, which have become a new security issue, the government announced plans to enhance certification and establish measures to manage risks. A solar power inverter is a device that converts direct current electricity generated by solar cells into alternating current.
In May, a communication device not described in the product manual was found in a Chinese-made inverter in the United States, prompting an investigation by U.S. energy authorities. Local U.S. media have raised concerns that such devices could be misused to disrupt the power grid. China currently holds more than 80% of the global solar power inverter market.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
