The government is urging member countries of the Asia-Pacific Economic Cooperation (APEC) to collaborate on energy transition and supply chain stability in response to uncertainties in the energy market stemming from the Middle East.
The Ministry of Climate, Energy, and Environment announced on September 9 that Oil Young, head of the Climate and Energy Policy Office, will attend the APEC Energy Ministerial Meeting as the chief representative of the government from September 10 to 11 in Beijing, China.
This meeting will focus on the theme of building an innovative and cooperative Asia-Pacific energy community for all. Member countries will discuss energy accessibility for all and ways to create synergies through cooperation between artificial intelligence (AI) and energy.
The South Korean government plans to emphasize the importance of energy transition and supply chain cooperation among member countries to address the prolonged uncertainties in the energy market due to the situation in the Middle East. It will also introduce policies aimed at deploying 100 gigawatts of renewable energy capacity by 2030 and establishing an intelligent and decentralized power grid to support this goal.
Additionally, the government will share plans for expanding power infrastructure in the AI era. To support the three mega-projects announced in June, it is promoting a 'local production for local consumption' energy supply policy that distributes demand to regions rich in renewable energy and nuclear power, along with modernizing the power grid.
Plans to utilize AI for power supply forecasting, optimizing power grid operations, and integrating and operating distributed energy resources through virtual power plants (VPP) will also be presented.
Furthermore, the government will announce policy examples aimed at spreading the benefits of energy transition to vulnerable groups and local residents. These include energy vouchers to support energy costs for heating and cooling, energy efficiency improvement projects for low-income households, and the 'Sunlight and Wind Income Village' initiative, which shares profits from solar and wind power with local communities.
During the meeting, the government will also pursue bilateral talks with Japan, Canada, and Singapore. These discussions will focus on jointly addressing the heightened uncertainties in the energy market due to the Middle East situation and exploring cooperation in renewable energy, nuclear power, and small modular reactors (SMRs).
Oil Young stated, "This is an opportunity to discuss overcoming the energy crisis stemming from the Middle East and to explore future-oriented energy innovations. We aim to share South Korea's energy policies that support advanced industries with the international community and strengthen cooperation with major countries."
* This article has been translated by AI.
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