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| Second Vice Minister of Trade, Industry and Energy, Kang Kyung-sung / Ministry of Trade, Industry and Energy |
Event will showcase Korea's advanced green technologies
By Lee Kyung-min
A global climate industry fair in Busan, a candidate for World Expo 2030, will be an excellent opportunity to illustrate Korea's cutting-edge climate technology and its leadership in global solidarity and inclusive growth toward a better greener future, according to the country's senior energy policymaker.
In a recent interview with The Korea Times, Second Vice Minister of Trade, Industry and Energy, Kang Kyung-sung said the World Climate Industry Expo (WCE) held from May 25 to 27 will paint a picture of how Korea is willing and able to host World Expo 2030 for world-renowned scholars, opinion leaders, as well as 500 local and foreign firms and organizations.
Korea's lead in tackling climate change will, the vice minister said, help turn the challenges into opportunities, as underpinned by a new energy paradigm whereby the country's capabilities in the nuclear power, hydrogen and carbon capture utilization and storage (CCUS) technologies will fuel sustainable growth.
The government's policy support in the process will ensure the elevation of energy industries as the next export drivers, a goal that will translate into the country's strengthened influence in global supply chains.
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| Busan Exhibition & Convention Center (BEXCO) / Courtesy of BEXCO |
World Climate Industry Expo
"We are ready," Kang said.
The event will be the country's largest climate and energy conference, a result of cooperative work among 12 government agencies and 13 state-run organizations to be joined by 500 industry leaders from within the country and abroad.
The three-day event will showcase Korea's standing on the global tech stage and how the IT leader can help its global peers respond to the climate crisis.
"Many local and foreign firms, including Samsung Electronics and Orsted, will participate to demonstrate their latest climate technologies and products. Panel discussions will advance the talks on how best to generate clean energy for a sustainable green future" he said.
He said this week's theme "Rising above the Climate Crisis towards Sustainable Prosperity" is in line with that of World Expo 2030 "Transforming Our World, Navigating Toward a Better Future."
Technology aimed at clean energy efficiency will be demonstrated by Samsung Group, LG Group, Hanwha Group, Doosan Group and Orsted, whereas those on carbon neutrality will be delivered by POSCO Group, SK Group and Lotte Group.
"Participants of the event will broaden their understanding of where we currently stand, where we should go and how," said Kang. "The need to mobilize global cooperation in countering the climate issue is stronger than ever, and everyone knows it."
Successfully hosting this week's event stands to elevate the county's position on the global stage, in his view, helping strong local industry players identify and strengthen momentum for overseas growth ― the reason why the government exists, he said.
"It is our responsibility to clear hurdles ― whether they be trade barriers or unexpected developments in protectionism ― and create conditions favorable for local firms," he said. "The government will put more emphasis on establishing infrastructure to advance early commercialization of next-generation technologies, among other demands of businesses to help them strengthen their competitiveness."
The ministry is adamant that the years of an undermined energy industry vitality will be reinvigorated in the years to come, buttressed by the government's drive to export 10 nuclear reactors by 2030, among other green energy-fostering measures.
Tax incentives and financial assistance provided to hydrogen industries will be revised in a way that can ensure the self-sufficiency of key technologies such as water electrolysis, fuel cells, hydrogen ships, vehicles and turbines.
"We will establish a clean hydrogen-based ecosystem, strengthen infrastructure and a competitive and fair bidding market to ensure that Korea becomes the global leader in the hydrogen market," he said.
"Moreover, the government will support the technological development and demonstration of CCUS and promote energy storage, a buffer to help contain the volatility of renewable energy."
This week's event comes after the visit of an eight-member delegation from the Bureau International des Expositions (BIE) in April.
They took a guided tour around the North Port in Busan, the proposed venue for World Expo 2030, among other key venues in the city.
The BIE is an intergovernmental organization that is in charge of overseeing and regulating World Expos. The Enquiry Mission led by BIE Administration and Budget Committee President Patrick Specht is visiting this week to assess the viability and feasibility of Korea as a host for the high-profile and much coveted international event.
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