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KOR

Press Releases

7th ROK-U.S. Energy Security Dialogue Takes Place (August 13)

Date
2020-08-14
hit
13566

1. Mr. Chung Kee-yong, Director-General for Climate Change, Energy, Environment and Scientific Affairs of the Ministry of Foreign Affairs, held the “7th Republic of Korea-United States Energy Security Dialogue” in a virtual format with Mr. Kurt Donnelly, Deputy Assistant Secretary of State at the Bureau of Energy Resources, and Mr. Marc Knapper, Deputy Assistant Secretary of State for Korea and Japan at the Bureau of East Asian and Pacific Affairs, on the morning of August 13.


o The two sides stressed that energy cooperation between the ROK and the U.S. is playing a crucial role in strengthening their friendship and alliance, and agreed to continue close cooperation between the two countries to enhance energy security and develop the energy industry in a mutually-beneficial manner.

- Specifically, they discussed changes in the global energy market resulting from COVID-19; shared the two countries’ energy policies; and explored ways to cooperate bilaterally and multilaterally.

- The two countries exchanged views on energy cooperation under the ROK’s New Southern Policy as well as “Asia EDGE,” an initiative for energy cooperation under the U.S. Indo-Pacific strategy, and agreed to step up cooperation in Southeast Asia.

- In addition, they agreed to continue cooperation in strengthening the security of energy resources, including cybersecurity in power systems and a stable supply of mineral resources.


o Director-General Chung Kee-yong introduced the ROK government’s Green New Deal, a policy to overcome the economic crisis caused by COVID-19 and shift to a low-carbon society through a transition toward clean energy, and asked for the U.S. side’s attention and cooperation regarding hydrogen energy, one of the key areas of the policy.


2. Meanwhile, on the occasion of the 7th Energy Security Dialogue, “Track 1.5 Roundtable Discussion” was also held on August 12 with experts of the energy sector (hydrogen and LNG) from the two countries.

o The roundtable discussion took place both online and offline. Participants in the discussion shared the current development of the hydrogen industry with a focus on areas where hydrogen can be used, including hydrogen vehicles, as well as LNG market trends, and discussed ways for the ROK and the U.S. to work together.

o Energy experts from the two countries assessed the impact of COVID-19 on the global energy market, and emphasized the need to increase use of clean energy sources, such as hydrogen.