Last year, South Korea set a clear course for the country’s green transition. President Moon announced that the country is aiming to increase its share of renewable energy to 20 percent by 2030. This corresponds to an expansion of new green energy of 48.7 GW, including 16.5 GW in wind energy - more than three times Denmark's total wind capacity (5,3 GW in 2017).

Therefore, Denmark and South Korea have signed an agreement, concerning a new authority cooperation in the energy area. The cooperation focuses on offshore wind, but also onshore wind, solar power and energy storage will play a part.

The Minister of Energy, Utilities and Climate Lars Chr. Lilleholt is participating in the annual Danish-Korean Green Growth Alliance meeting and is in charge of a major Danish business delegation in South Korea.

"I see great potential in the cooperation with South Korea, and for that reason, I am very excited about the agreement. This is a relatively new market for Denmark, and now, our experts and know-how can benefit the South Koreans in their ambitious green transition. At the same time, the cooperation may open up for Danish energy companies with technical solutions to help advance the export," said Lars Chr. Lilleholt.

Specifically, the two countries will work together on the development of energy politics and regulation both in renewable energy and new types of energy. Simultaneously, the agreement will contribute to mutual delegation visits, seminars, workshops and meetings, where experts can share their knowledge and experience.

With the export delegation in South Korea, the Danish companies have the opportunity to present their skills and solutions to South Korea's energy politicians, both locally and nationally. The export delegation and the new government cooperation can contribute to the expansion and maturing of the Korean wind market - benefiting both Danish exports and the global climate.

Facts:

• Denmark and South Korea have had a strategic partnership since 2011, which has contributed to positioning Denmark as a valuable partner for South Korea in multiple areas, including environment, energy and green growth.
• In 2017, the South Korean government presented a plan for multiple sustainable energy goals towards 2030 ("Renewable Energy 2030"), proposing a strong restructuring and conversion of the energy system. That includes a goal of 20 percent sustainable energy in 2030 (7 percent in 2016), primarily through the installation of a new sustainable energy capacity of 48.7 GW, including 16.5 GW in wind energy.
• Ørsted, Vestas, Copenhagen Offshore Partners and COWI are, among others, participating in the business delegation.
• South Korea was Denmark's 23rd largest export market for goods in 2017. In the first seven months of 2018, the Danish export to South Korea advanced to EUR 0.43 billion - up 5.2 percent compared to the same period in 2017 (0.41 billion). The Danish export of energy technology in South Korea was at EUR 118 million in 2017.

Source: Danish Ministry of Energy, Utilities and Climate (in Danish)