Korea Energy Agency Signs Agreement with 31 Companies for 'Voluntary Energy Efficiency Target Pilot Project' (Comprehensive)

Participation from 45 Sites... LG Innotek, LG Electronics, Doosan Heavy Industries, Kia, SK Innovation, and More

Kim Chang-seop, President of the Korea Energy Agency (right), poses for a commemorative photo with Park Young-soo, Head of Safety and Environment at LG Innotek, representing the contracted companies at the "2020 Voluntary Energy Efficiency Target Agreement Ceremony" held on the 25th at the Sheraton Seoul Palace Gangnam Hotel. (Photo by Korea Energy Agency)

[Asia Economy Reporter Moon Chaeseok] On the 28th, the Korea Energy Agency announced that it held the '2020 Voluntary Energy Efficiency Target Pilot Project Agreement Ceremony' at the Sheraton Seoul Palace Hotel on the 25th.

The voluntary energy efficiency target pilot project, launched for the first time this year, is a new system that focuses on energy-intensive workplaces, where companies voluntarily participate to agree on energy source unit improvement targets, and evaluate performance to certify excellent workplaces.

A total of 31 companies and 45 workplaces expressed their intention to participate in the agreement. Companies planning to participate include LG Innotek, which attended the ceremony as a representative, LG Chem, LG Electronics, Doosan Heavy Industries & Construction, Kia Motors, SK Innovation, Hyundai Steel, Kolon Industries, Hyosung TNC, and Hansol Paper.

By industry, the participating workplaces are 18 in petrochemicals, 7 in electrical and electronics, 4 in ceramics and cement, 3 in metals, 3 in telecommunications, 3 in paper, 2 in machinery and automobiles, 2 in food, 2 in waste, and 1 in display.

Participating companies pledged to strive for voluntary energy efficiency improvement and energy source unit enhancement in the industry, and actively participate in national energy utilization rationalization and greenhouse gas reduction projects.

The Energy Agency expects this to be an opportunity to establish a culture where companies can autonomously save energy, moving away from regulation-centered policies amid the economic crisis caused by the novel coronavirus disease (COVID-19).

Kim Changseop, Director of the Energy Agency, said, "The voluntary energy efficiency target system is significant in that it introduces a voluntary system reflecting the realities of the industry, departing from the existing regulation-centered energy and greenhouse gas reduction policies," adding, "We hope all companies participating in the system actively respond to the changes in the new energy and greenhouse gas paradigm."

An Energy Agency official explained, "Through agreements with energy-intensive workplaces, we will induce voluntary energy efficiency improvements at workplaces," and added, "We are reviewing incentives such as certification support for excellent workplaces and extension of the energy mandatory inspection cycle."

This content was produced with the assistance of AI translation services.