For Immediate Release: April 18, 2012
SEOUL, KOREA – Lt. Governor Brian Schatz met with key South Korean industrial leaders who reaffirmed their commitment to pursue an advanced Smart Grid development project in Hawaii.
On Wednesday, Lt. Governor Schatz sat down with representatives of the Republic of Korea’s Ministry of Knowledge and Economy (MKE), who said they hoped to finalize a collaboration agreement with the state in the next few months.
“Although our energy sources are different, we are both committed to reducing our dependence on foreign fossil fuels, but need to make some breakthroughs on our electricity system,” Lt. Governor Schatz said.
“By sharing information and collaborating, we can attract capital to Hawaii and allow our clean energy goals to become a reality.”
In February, Gov. Neil Abercombie and MKE Director Kyu-Chong Choi signed a letter of intent to pursue mutual interests in Smart Grid developments in the islands. MKE and its Korea Smart Grid Institute (KSGI) have been at the forefront of the Korea Smart Grid Roadmap, South Korea’s plan to develop and implement a nationwide smart grid by 2030.
The MKE and KSGI are currently leading more than 170 South Korean companies in the development and deployment of the Jeju Island Test Bed, a planned 6,000 household smart grid community demonstration project in South Korea, with investments totaling more than $240 million.
According to Schatz, the Korean government and its private companies are interested inHawaii because of its high penetration of clean, intermittent energy on a relatively small grid.
On Thursday, Lt. Gov. Schatz will tour the Jeju Island Test Bed and will visit the nearby Undersea Power Cable Site developed by LS Cable.
Chief Communications Officer
State Energy Office, DBEDT