ABU DHABI, United Arab Emirates–(BUSINESS WIRE)–Today, South Korean Prime Minister Kim Hwang-sik, in Abu Dhabi to
deliver a keynote address during the opening ceremony of the World
Future Energy Summit (WFES) on January 16, toured Masdar,
Abu Dhabi’s multifaceted renewable energy company. The Prime Minister
experienced firsthand the strategic long-term commitment Abu Dhabi is
making to accelerate the development, adoption and deployment of clean
technology and renewable energy.
“Renewable Energy has been a topmost priority on the South Korea agenda
– as a country that has prided itself throughout the years for great
innovations – it only made perfect sense for Korea to be strongly
represented in a Summit that focuses on powering innovation.”
During the visit, Prime Minister Kim Hwang-sik toured Masdar City and
the campus of the Masdar Institute of Science and technology – the
Middle East’s first home grown, graduate level research driven institute
dedicated to renewable energy and clean technologies.
The visit to Masdar precedes the Prime Minister’s keynote address at the
World Future Energy Summit, where he will join recently announced
keynote speakers Chinese Premier HE Wen Jiabao and Secretary General of
the United Nations, HE Ban Ki-moon.
Prime Minister Kim Hwang-sik, a lawyer and politician, is a strong
supporter of renewable energy and is working to create a green economy
focused on economic development and job growth. He assumed the post of
South Korean prime minister in October 2010.
The visit by the Prime Minister underscores the growing relationship
between the UAE and South Korea especially in the areas of renewable
energy, training, education, construction, shipbuilding, semiconductors,
information technology and telecommunications. The UAE established
bilateral relations with the Republic of Korea early in 1980 and these
relations have witnessed continued development at all levels and have
facilitated an exchange of experience in various fields.
Prime Minister Kim Hwang-sik said, “For over 3 decades now, the UAE has
been a trusted and reliable partner to South Korea. The UAE has always
been a meeting and dialogue hub between east and west –The World Future
Energy Summit is just another demonstration of the country’s convening
power.
“Renewable Energy has been a topmost priority on the South Korea agenda
– as a country that has prided itself throughout the years for great
innovations – it only made perfect sense for Korea to be strongly
represented in a Summit that focuses on powering innovation.”
South Korea aims to generate 11% of energy from renewables by 2030. This
is compared with a current figure of 2.46% – achievement of these
targets would be four times more than current levels.
The country has earmarked $ 891.2 million in support of renewable energy
projects and financing including building solar and wind power energy
facilities.
Asia’s fourth-largest economy has also announced that it would
strengthen its new and renewable energy sectors, expecting the sectors
to achieve exports of $ 40 billion in 2015 compared with $ 4.6 billion in
2009.
Dr.
Sultan Ahmed Al Jaber, CEO of Masdar, Abu Dhabi’s renewable energy
company said, “The deep rooted partnership that the UAE shares with
South Korea is further strengthened by this visit of Prime Minister Kim
Hwang-sik. Collaborations with like-minded countries are at the core of
the strategy of our wise and visionary leadership of Abu Dhabi and
Masdar is proud to be able to build upon such partnerships.”
In March 2011, the UAE Ministry of Foreign Affairs and South Korea’s
Global Green Growth Institute (GGGI) signed a memorandum of
understanding to develop synergistic partnerships between UAE think
tanks, businesses and Korean counterparts. On July 7, 2011 GGGI
inaugurated its Middle East and North Africa (MENA) regional office in
Abu Dhabi’s Masdar City.
GGGI and the UAE are focusing on developing and implementing specialized
training programs to educate workers on issues surrounding green growth.
As well as developing tailor-made low carbon green growth models for oil
rich and non-Annex I countries with the aim of meeting achievable
greenhouse gas emission reduction targets in the future.
The GGGI Abu Dhabi office serves as a regional hub in tackling issues
such as climate change and economic development throughout the Middle
East and North Africa.
For 2012, the South Korean government has set a standard to generate
2.61 percent of its electricity from renewable energy with a goal to
increase to 6 percent by 2020. This is significant because South Korea
as a developing country has committed to and is investing in
diversifying their energy mix.
Now in its fifth year, WFES, taking place from January 16-19, is the
world’s foremost annual meeting committed to promoting advancement of
renewable energy, energy efficiency, and the water and waste sectors by
engaging political, business, finance, academic and industry leaders to
drive innovation, business and investment opportunities in response to
the growing need for sustainable energy.
More than 26,000 attendees, including 3,000 delegates, 650 exhibiting
companies and 20 national pavilions, are expected to participate in the
summit.
*source: ME
NewsWire
View this release online: http://www.me-newswire.net/news/4778/en
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