The new Ministry of Climate, Energy, and Environment held its first press conference. Minister Kim Sung-hwan affirmed the continued pursuit of the internalization of the East Seoul substation and HVDC converter station expansion, despite recent opposition from local residents. He stated that these projects are crucial for electricity supply in the metropolitan area, after having met with opposition groups to address their concerns, clarifying rumors of a project review.
During the conference, Kim outlined the energy transition and carbon reduction strategies of the Lee Jae-myung government, including discussing the 2035 national greenhouse gas reduction goals, the operation of nuclear and renewable energy, plans for pumped storage power plants, and solutions to the green algae issue, engaging in a Q&A for over an hour and forty minutes.
On the expansion of the East Seoul substation, Kim confirmed there was no talk of a project review and emphasized direct dialogue with residents to address misunderstandings. Regarding energy strategies, he mentioned plans to expand both nuclear and renewable energy to 30% each by 2035, alongside developing ‘output reduction’ technologies to address the rigidity of nuclear power and utilizing vertical solar energy to mitigate intermittency issues.
He also touched on transitioning from LNG to hydrogen power stations, advocating for a move towards a ‘carbon-free’ energy portfolio. On the opposition to pumped storage dams, Kim emphasized the importance of finding economically viable solutions without triggering large costs.
About small modular reactors (SMR) in the Korean power plan, he advocated for robust technology development and cautious expansion decisions due to the challenges in validating their success. On electricity pricing, Kim predicted no immediate increase despite rises in renewable energy, mainly due to past influences from international oil prices.
Concerning the green algae issue, measures are being devised with the Ministry of Agriculture, expecting to present additional solutions within the year. Moreover, Kim aims to achieve a RE100 demonstration on Gapado near Jeju Island during his term, striving to foster green industries and expand job opportunities.