Conclusions from the 8th Korea Smart Grid Week


Korea Smart Grid Association held the “8th Korea Smart Grid Week” and “Korea Smart Grid Expo (Energy Plus)” on September 27th(Wed.) – 29th(Fri.), 2107 at COEX in Seoul. Sharing global Smart Grid trends, the event attracted as many as 524 companies from 27 countries and 21,436 visitors and participants.

In his congratulatory address, Minister Paik Un-gyu of Trade, Industry and Energy highlighted the importance of harnessing energy industry for a future engine of national economic growth as the world is moving fast toward energy transition in the age of the Fourth Industrial Revolution. Minister Paik also assured that the Korean government will spare no effort to provide regulatory and policy support in this regard, including energy industry deregulation, renewable energy technology development, expansion of Smart Grid, and construction of smart cities.

Sixteen Smart Grid experts from nine countries, such as the U.S., Japan, and Germany, took part in the Korea Smart Grid Week comprised of three sessions, and had in-depth discussions on the role of Smart Grid in the age of the Fourth Industrial Revolution, future growth directions, and overseas market entry strategies.

Session 1: Revitalization of Smart Grid in the 4th Industrial Revolution

Professor Park Jong-bae of Konkuk University made a presentation on “Korea’s Smart Grid Future for the 4th Industry Revolution” and explained that Korea needs to make a dual-concept approach based on value and technology toward Smart Grid evolution. He also suggested that the power system and market should adopt renewable energy by overcoming uncertainties and increasing flexibility.

Session 2: Sharing domestic and overseas demonstration complex technology for export industrialization of Smart Grid

Under the presentation title, “Smart Grid Investment and Financing Strategies in Developing Countries,” Susumu Yoneoka of the Asian Development Bank explained about the need of adopting Smart Grid by developing countries in terms of grid integration of renewable energy, increase in access to energy, and energy efficiency. A new fund issued in April 2017, High-Level Technology, was also introduced in the session. Susumu Yoneoka expressed the ADB’s commitment to Smart Grid development support and increasing aid in energy sector, and suggested to make full use of its aid programs.

Session 3: Market environment of Smart Grid industry and strategies of attracting foreign companies

In this session, Smart Grid market environments and challenges of Japan, Singapore, Germany, Australia, the U.S., and Vietnam were shared. Special attention was drawn to Singapore’s Pulau Ubin Micro-grid test-bed utilizing renewable energy and ESS, Japan’s Kurima island, Germany’s SINTEG smart energy program, and other nations’ exemplary projects and cases. Meanwhile, President Lee Kyu-sang of Asia Networks Viet Nam Co., Ltd. stressed the importance of cooperation with local corporate partners in launching businesses in Viet Nam with a synergistic combination of infra and manpower from the local side and technology and capital from a foreign company.

On the last day of the Korea Smart Grid Week, Smart Grid industry entrepreneurs and professors from around the world including the U.S., Germany, and Singapore paid a site visit to R&D Campus of LSIS and KT-MEG Center, where they could learn about the world’s top-class Smart Grid business operations. Besides, the participants were able to share Smart Grid technologies and lay the groundwork for future global cooperation through export meetings arranged.

Marking the 8th anniversary, the Korea Smart Grid Week held this year raised the expectation for future Smart Grid industry growth and tangible achievements. The 9th Korea Smart Grid Week is scheduled to be held on October 10th-12th, 2018.