The Republic of Korea joined MI in 2015 because our government is committed to executing this investment expansion plan and technology development strategy for focused areas to improve existing technology, save costs and accelerate the time-to-market.
Since the launch of the MI, to refocus Korea’s energy R&D on clean energy, seven relevant government ministries and approximately 200 experts from industry, academia and research institutes collaborated to establish the clean energy technology development strategy through the Clean Energy Technology Roadmap. The Republic of Korea’s Clean Energy Technology Roadmap marks the milestones for clean energy technology development in order to achieve a low-carbon society, and it helps to realize the energy policy directions of the Korean government. The vision of the roadmap is to “convert the new climate regime crisis into an opportunity for economic growth through clean energy technology innovation.” The goals of the roadmap are 1) responding to climate change by contributing to the reduction of greenhouse gas emissions 2) creating new energy business, and 3) leading global technological innovation.
In October 2017, the Republic of Korea established an Energy Transition Roadmap to expand the power generation ratio of renewable energy. Our government plans to implement 3020 renewable energy schemes including the expansion of public participation and improvement of supply conditions to achieve 20% of the renewable energy generation ratio in 2030. Along with an announcement a Hydrogen Economy Energy Roadmap to build a hydrogen industry ecosystem based on hydrogen cars and fuel cells.
Korea Institute of Energy Technology Evaluation and Planning(as refers “KETEP”), a R&D funding agency under MOTIE and a member of Mission Innovation Secretariat, works with members from Austria, Canada, China, EC, Finland, and U.K. KETEP is responsible for collecting and analyzing information on public sector investment in clean energy technology of member countries, and is in charge of the publication of Country Highlight Report, which analyzes R&D investment and efforts to cope with climate change of member countries every year.
The KETEP funds MI-oriented international joint research projects from Dec 2018 to Jan 2021. The budget is around $1 million USD per project every year. This is delivered in cooperation with the USA, Canada, Germany, and India. KETEP funds a total of eight projects in the field of Innovation Challenges and conducting various activities such as joint workshops, manpower dispatch, joint thesis discussion, research sample exchange, and demonstration plant visits.
The Republic of Korea is a proud member of MI and looks forward to continued collaboration.