Korea needs to get ahead in smart grid deal

Partnerships with other countries under way

By Kim Yoo-chul

Smart grids are the latest trend in Korea's "green" drive, and despite their short history, Seoul is heavily betting on them.

One of the leaders in this field is Koo Ja-kyun, chairman of the Korea Smart Grid Association (KSGA). Koo is positive about the outlook.

"The potential for market growth is great, considering the estimated number of connected clients and the solid network infrastructure across the country," Koo said in a recent written interview with The Korea Times.

Koo, also the chief executive and vice chairman of LS Industrial, will organize the Korea Smart Grid Week on Jeju Island, this week, together with the Ministry of Knowledge and Economy, the International Smart Grid Action Network and the International Energy Agency.

"With experts from the United States, Japan, Australia, Italy and the Netherlands, the conference will become a forum to find strategic fields that need standardization for additional value," Koo said.

A smart grid refers to the computerized control of supply and demand during the transmission of electricity from renewable energy sources to major population centers.

"This is highly inspiring as the smart grid is promising to bring more profits to all interested parties and stakeholders for utilities," Koo said. "just as the Internet has opened up an array of consumer tools and services"

Referring to increased international awareness, Koo said Korea is seeing better chances to bolster its overseas profile in the sector.

"We are aiming to strike partnerships with Northern Ireland, Japan, China and Malaysia for smart grid-related projects, as well as Australia and India," Koo added.

Koo was also named vice chairman of the Global Smart Grid Federation (GSGF), last year.

Currently, Korea is running pilot programs in Jeju Province, after Seoul pledged to cut its greenhouse gas emission to 30 percent by 2020. They are being run in collaboration with SK Telecom, KT, LG Electronics and Korea Electric Power Corporation.

A small-sized smart grid system will be completed by 2013, benefiting 6,000 households.

Koo believes in market growth as interested countries are reaching a broad consensus for the construction of smart grids, adding more back-up measures should be followed.

``It is important to achieve an early commercialization of smart grid systems to get ahead. We expect more investments from the governments and players,’’ he said.