The Ministry of Climate, Energy and Environment (MCEE, Minister Kim Sungwhan) announced that, on June 10 in Brussels, Belgium, Minister Kim Sungwhan met with Dan Jørgensen, the European Union (EU) Commissioner for Energy, to discuss ways to strengthen cooperation in addressing the energy security crisis stemming from the Middle East and in promoting the energy transition and electrification.

Both sides agreed that, as the situation in the Strait of Hormuz drags on and energy security is threatened, in order to prevent a vicious cycle of economic instability, the only breakthrough is to increase the share of renewable energy and shift the fossil-fuel-based energy consumption structure to an electricity-centered one.

In particular, Minister Kim Sungwhan emphasized that Korea and the EU are trustworthy energy security partners and have a complementary relationship in promoting both sides’ energy transition, and proposed strengthening policy exchanges in various areas such as expanding renewable energy deployment and building energy storage systems and power grid infrastructure; improving energy efficiency; and electrification of the transport and building sectors.

Both sides agreed to establish a “Korea-European Union Energy Dialogue Channel (vice-ministerial level)” and to make it a regularized mechanism. They plan to open a direct hotline between senior government officials (vice-ministerial level) to closely communicate on the Middle East situation, share energy transition policies, and strengthen cooperation between companies on both sides.

Minister Kim Sungwhan emphasized, “This Middle East-origin energy crisis should be taken as an opportunity to accelerate the expansion of renewable energy and electrification and to swiftly transform into an electric nation, and that the EU will become Korea’s most essential partner in achieving carbon neutrality and energy security.”

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