Korea, US host energy business forum to expand bilateral cooperation

Second Vice Climate Minister Lee Ho-hyeon, center, attends the U.S.-ROK Energy Business Forum held in Washington, Wednesday (local time). Courtesy of Ministry of Climate, Energy and Environment

Korea and the United States have jointly hosted an energy business forum in Washington in a bid to deepen the two countries' cooperation in the critical sector, Seoul's climate ministry said Thursday.

The forum was held Wednesday (local time), attended by Korea's Second Vice Climate Minister Lee Ho-hyeon and his U.S. counterpart, Alex Fitzsimmons, as well as major companies in the energy, financial and heavy industries from both countries, according to the Ministry of Climate, Energy and Environment.

The companies include the state-run Korea Electric Power Corp. (KEPCO), Korea Hydro & Nuclear Power (KHNP), LG Energy Solution Ltd., Samsung Heavy Industries and Doosan Enerbility from the Korean side, and JP Morgan, ExxonMobil, GE Vernova and NextEra Energy from the U.S. side.

On Monday, Lee attended a conference co-hosted by the Atlantic Council and the KHNP marking the 70th anniversary of a cooperation agreement on the civil use of atomic energy between Seoul and Washington.

In the conference, Lee called for deeper nuclear power cooperation between the two countries, while continuing efforts for the non-proliferation of nuclear weapons, the ministry said.

On Tuesday, Lee joined the 10th global energy forum organized by the Atlantic Council, along with U.S. Energy Secretary Chris Wright and other senior energy officials and energy business leaders from major economies.

Lee delivered a keynote speech on power security during the electrification era, highlighting the importance of critical mineral supply chains amid growing power demand created by the rapid growth of advanced industries, while sharing the Seoul government's electric power security policies, according to the ministry.

"Through this week's trip to the U.S., we have taken the Korea-U.S. nuclear partnership, which has continued for 70 years, to the next level by expanding it into a broader energy and industrial alliance," Lee said in a press release.