Minister of Trade, Industry and Energy Yoon Sang-jick; Korea Electric Power Corp. 

President Cho Hwan-eik; Korea National Oil Corp. President Suh Moon-kyu,; Korea Gas Corp. 

President Chang Seok-hyo; and others attend a New Year’s event with those in the energy field 

at the COEX InterContinental Hotel in Samseong-dong, Seoul, on Jan. 28.

Minister of Trade, Industry and Energy Yoon Sang-jick called for the Korean energy industry community to take the initiative in innovation for building the creative economy.

While delivering a speech at a meeting with energy industry leaders at the COEX InterContinental Hotel in Samseong-dong, Seoul, on Jan. 28, MOTIE Minister Yoon said, “It is a time to push the creative economy for job creation by grafting creative ideas to science technology and IT, and to accelerate convergence and interdisciplinary combination.” As to the top innovation tasks in the energy field the government has unveiled as ways of nourishing industrial growth engines for the creative economy, which include high-efficiency, a minimized power generation system, a Northeast Asian oil hub, and IT-based demand management system projects, Minister Yoon asked for the industry community’s active concern and participation.

The minister discussed issues of mutual concern with energy business leaders, as suggested by President Park Geun-hye’s call for the creation of growth engines for the creative economy at her recent New Year’s news conference.

MOTIE Minster Yoon gives a speech at the New Year’s event with those in the energy field. 

(photos: courtesy of MOTIE, article by S. Y. Kim)

The participating business leaders said they will join forces in creating growth engines for the creative economy by expanding investments in the top task areas to secure core technologies and make inroads into foreign markets. They asked for the government’s support to ease restrictions and give incentives so that the Northeast oil hub project, projected to yield huge added values in petroleum logistics and financing industries, can be translated into action in a seamless fashion.

In a New Year’s event following the meeting, Yoon stressed the need for shifting the energy policy paradigm to a demand management-based one, creating new jobs in the energy field through stable energy demand and supply and creating an environment in which innovative SMEs can enter the energy field, as suggested under the 2nd National Energy Master Plan announced early this year. 

Yoon asked for energy public entities to renew themselves and be reborn as “strong companies” through massive management innovation, strenuously preparing for the creation of future energy infrastructure, and spearheading a new cooperative initiative in the Northeast Asian region.

Twenty-eight CEOs of public energy entities, including Korea Electric Power Corp. (KEPCO) President Cho Hwan-eik, participated in the meeting with MOTIE Minister Yoon, while some 250 people from the energy industry and representatives from the related industries, including Cho, Korea National Oil Corp. President Suh Moon-kyu and Korea Gas Corp. President Chang Seok-hyo, attended the New Year’s gathering.