Chairman Cho Young-tak of Korea Power Exchange delivers an opening speech at the 16th Seoul International Conference on the Electricity Market (SICEM 2020) at Seoul InterCeontinenal COEX Hotel on July 10.

Korea Power Exchange hosted the 16th Seoul International Conference on the Electricity Market (SICEM 2020) at Seoul InterCeontinenal COEX Hotel on July 10.

SICEM 2020 took place under the theme “Paradigm Shift in the Korean Power Industry – Improving of Whole-sale Power Market and Fostering of New Energy Industries.” Representatives from the Ministry of Trade, Industry and Energy, industry, academia and research circles and related organizations and company officials participated in the conference.

In his opening speech, KPX Chairman Cho Young-tak said, “SICEM 2020 is held under the theme “Korean Power Industry to Comply with Great Changes of Energy Paradigm and Institutionally Join in Changes.” Speaking of the purpose of the event, Chairman Cho expressed hope the nation will explore how to improve the Korean power industry and how to nurture the new energy industries.

Cho also said he hopes it serves as an opportunity to develop the power industry into an eco-friendly and sustainable one.

SICEM 2020 consisted of two sessions in which experts from industry, academia and research circles made their presentation, and then panel discussions took place.

Speakers of the first session under the theme “Improving of the Whole-sale Power Market” included Prof. Park Jong-bae of Kunkook University, Prof. Kim Seung-wan of Chungnam National University, and Ok Ki-yeol, chief of a team with KPX. Prof. Park touched on how to make the power industry efficient while Ok of KPX spoke about how to improve the first phase of the power spot market.

Following the first session, Prof. Kim Young-san of Hanyang University chaired a panel discussion in which panelists took up issues such as global energy paradigm shift trends, greenhouse gas emission reduction and institutional reform designed to expand the acceptance of new/renewable energies in a rapidly changing environment of the power industry like the 4th Industrial Revolution.

Speakers of the second session under the theme “Nurturing New Energy Industries” included Lee Sang-hak, a project director of Korea Institute of Energy Technology Evaluation and Planning (KEEP), spoke about ways of invigorating new energy industries.

Executive Vice President Park Chang-min of Gridwiz touched on the demand resources market and new opportunities.

President Lee Young-ho of Solar Connect lectured on the spread of divergent resources based on platform and new energy industry opportunities connected with divergent resources. President Shin So-bong of Merlot.lab spoke about demand response services using smart lighting.

Following the second session, Prof. Sohn Sung-yong of Gachon University, chaired a panel discussion in which Lee You-sou, a councilor with Korea Energy Economics Institute, and President Kim Ji-hyo of Omni System joined.

A view of SICEM 2020. (Photos: KPX)

They shared views on the necessity for the establishment of a market regime designed to build infrastructure like big data, AI and IoT to nurture new energy industries and give diverse incentives.

The success of new energy industries like the expanding of demand resources market, and building of eco-friendly/smart energy infrastructure depends on that of the wholesale power industry, said a KPX official.