Governor Won Hee-ryong: "Jeju Will Lead the Liberalization of Electricity Trading"

[Asia Economy Honam Reporting Headquarters (Jeju) Reporter Park Chang-won] Won Hee-ryong, Governor of Jeju Special Self-Governing Province, recently stated, “We will take a big step to gradually promote the liberalization of electricity trading, starting in Jeju.”

Governor Won made this remark while delivering a presentation titled “Green New Deal Frontier Jeju, Changing the Republic of Korea” at the Green Growth Committee public forum held at The Plaza Hotel in Seoul on the afternoon of the 23rd.

Governor Won said, “A carbon-neutral society still faces many challenges to overcome, such as reducing dependence on fossil fuels, securing the economic feasibility of alternative energy, and limiting the monopoly trading output of electric power companies.”

He emphasized, “Jeju, which has encountered these challenges first, will share its 10 years of experience and know-how nationwide and lead the Republic of Korea and the world as a Green New Deal frontier.”

He also stated, “We will realize the liberalization of electricity trading in Korea starting from Jeju through the designation of a distributed energy special zone and the enactment of the Green New Deal Basic Act. We are also promoting the P2G demonstration project, which uses surplus renewable energy to produce green hydrogen through water electrolysis and uses it as power for fuel cells or hydrogen vehicles, for the first time nationwide, and will open the path toward building a hydrogen ecosystem and a hydrogen economy starting from Jeju.”

At the talk concert, Governor Won also expressed the need for bipartisan cooperation and regulatory reform for green growth.

He cited Jeju’s wind turbines as an example, saying, “The reality that produced electricity can be traded must be resolved for renewable energy to become competitive. When electricity is traded directly, unused energy can be stored in real time with economic feasibility, and depending on the form of energy, an ecosystem where consumers and producers are connected in various ways must be created to form a market and develop leading projects.”

Governor Won said, “While strengthening environmental and safety standards, regulations should be gradually eased in areas that create new jobs and markets. Currently, the Green New Deal mainly discusses energy centered on electricity, but eventually, it will have to extend to the entire city, including transportation and housing. Our future food sources and children’s jobs will come from the Green New Deal.”

He added, “Even if the administration changes, bipartisan cooperation on green growth and the Green New Deal is necessary. We must set precise goals that can actually produce results and create and spread practical innovations, even if small.”

Meanwhile, the public forum hosted by the Green Growth Committee under the Prime Minister’s Office was held under the theme “Carbon Neutral Society in Response to the Climate Crisis: Local Governments Change the Republic of Korea.”

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