Korea Energy Agency signs MOU with KOEN, Climate Change Center for overseas projects
Korea Energy Agency signs MOU with KOEN, Climate Change Center for overseas projects
  • Lee Kap-soo
  • 승인 2020.05.19 11:18
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Kim Chang-seop (right), president of Korea Energy Agency, Yoo Hyang-yeol (left), president of KOEN, and Yoo Young-sook, chairman of the Climate Change Center, are taking photos after signing the MOU. /Courtesy of Korea Energy Agency

Korea Energy Agency signed a memorandum of understanding (MOU) with Korea South-East Power Co. (KOEN) and Climate Change Center for overseas business development projects to cope with climate change at the Millennium Hilton Hotel in Seoul on May 15.

Under the MOU, the three agencies will carry out projects to reduce greenhouse gas emissions, secure carbon emission rights and engage in power generation business, an official of Korea Energy Agency said on May 18.

In order to support domestic companies' advance into overseas markets, Korea Energy Agency has established an 'overseas advancement platform' and linked the needs of companies' advance into foreign markets with foreign government agencies' demands for overseas investment.

Related to this, it has been operating programs such as G2G/G2B project discovery, feasibility study support, and invitation training of project officials.

Through this agreement, the agency will support the initial stages of the project, including the feasibility study of overseas projects to cope with climate change, while KOEN will carry out overseas projects, investment and related support tasks.

Meanwhile, the Climate Change Center will link the project to domestic and foreign greenhouse gas reduction projects (CDM) and green climate funds and cooperate with local networking.

Under the agreement, the three agencies will push for a 1MW farming solar power project that combines agriculture and solar energy in Myanmar, which has a high proportion of agriculture, and will continue to explore various overseas projects and create a successful model through close cooperation.

Korea Energy Agency has been actively promoting various private cooperation overseas projects, including a project to modernize old power plants in Uzbekistan, a project to improve efficiency of streetlights in Vietnam, and a project to promote the supply of electric vehicles in Cambodia.

Kim Chang-seop, president of Korea Energy Agency, said, "The recent COVID-19 incident has created a brand called 'KOREA' and this should shift the world's attention to Korean companies," adding, "We will make efforts to expand the credibility of Korea, which has been enhanced by COVID-19, into a climate change response business so that domestic companies can enter overseas markets."

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