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Government to Promote Energy Cooperation with European Countries

[SEJONG=NEWSIS] The Korean government is promoting energy-related cooperation with the U.K. and Germany.

The Ministry of Trade, Industry & Energy (MOTIE) announced on May 28 that the government will give shape to plans for energy-related cooperation with technology powerhouses in Europe on the occasion of President Park Geun-hye’s official visit to European countries.

The ministry said it will first jointly fund energy technology research and development with British and German governments before promoting cooperation for solar cells, secondary batteries and smart grids.

The Korean and German governments held the Korea-Germany Research and Development Review Panel on Solar Energy on May 27 and decided on joint research projects for this year. They include research for the reliability and longevity of solar modules.

The Korean and British governments plan to co-research solar cells, secondary batteries and smart grids by each investing KRW 4.5 billion, for a total of KRW 9 billion, for the next three years. MOTIE came up with plans for a memorandum of understanding with British authorities after reviewing the size of the fund and ways to promote projects.

“Technology cooperation with Germany in the field of new renewable energy and energy conservation has great potential and expected effects. So the collaboration will serve as a good opportunity for both countries to achieve win-win solutions,” said a ministry official.

Source Text

Source: Newsis (May 28, 2014)

** This article was translated from the Korean.
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