Future Energy Cooperation
The Korea Energy Economics Institute (KEEI) and the Heritage Foundation hosted a conference in Washington D.C. on April 21 (local time) for cooperation between the United States and South Korea in the energy sector.
The purpose of the conference was to respond to market conditions that have changed for the U.S. government’s America First energy policy and discuss better ways of cooperation between South Korean and American energy companies and academic communities in the sector. The conference was attended by approximately 100 scholars and experts as well as companies such as the Korea Gas Corporation, SK Energy, Korea Hydro & Nuclear Power, GE Power, Exxon Mobil and AES.
There, South Korean Vice Minister of Trade, Industry & Energy Woo Tae-hee proposed collaborations for standardization regarding clean energy technology, carbon market establishment, etc. “The two sides need to find ways to secure energy in a more stable and economical manner by means of shale gas introduction, participation in resources development projects and the like,” the vice minister pointed out, adding, “In addition, they need to make better use of advanced technology like information and communications technology, big data, artificial intelligence and the Internet of Things so that they can dominate the energy market in a smart and efficient way.”
After the conference, the vice minister meets with Deputy Under Secretary of Commerce Kenneth Hyatt to discuss the Donald Trump administration’s trade policy and its import regulations on oil country tubular goods (OCTG) and the like from South Korea.