Samsung, Hyundai, SK, LG All Mobilized... President Yoon Proposes Launch of 'CF Alliance'

12th Korea Chamber of Commerce Founding General Meeting Held
Corporate Establishment by End of This Month, Full-Scale Activities Begin
Expectations to Address RE100 Issues
President Yoon Proposed at UN Last Month

Last month, the Carbon Free Alliance (CF Alliance), proposed by President Yoon Suk-yeol at the United Nations General Assembly, was launched domestically on the 12th. Major Korean conglomerates such as Samsung, Hyundai, SK, LG, POSCO, and Hanwha have joined the CF Alliance.

The Ministry of Trade, Industry and Energy announced that on the afternoon of the 12th, it held the founding general meeting of the CF Alliance at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. This founding meeting was a follow-up measure after President Yoon proposed the formation of the CF Alliance in his keynote speech at the UN General Assembly.

The CF Alliance is an expansion of the Carbon Free Energy Forum, which was launched in May. The forum, which was a discussion body, is being converted into a corporation to secure a stable activity base and execution capability going forward.

On the 12th, at the Chamber Lounge of the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Jang Young-jin, First Vice Minister of the Ministry of Trade, Industry and Energy, Lee Hoe-sung, Chairman of the CF Federation, Woo Tae-hee, Vice Chairman of the Korea Chamber of Commerce and Industry, along with representatives from CF Federation member companies such as Samsung Electronics, SK Hynix, and Korea Electric Power Corporation, attended the 'Carbon-Free (CF) Federation Inaugural General Meeting' and took a commemorative photo.

The CF Alliance plans to complete the administrative procedures for corporate establishment by the end of October, hold an inauguration ceremony, and then actively engage in activities such as building cooperative systems with domestic and international companies and international organizations, discovering institutional improvement tasks and standardization, and bridging climate gaps between countries.

At the founding general meeting, 14 companies and institutions including Samsung Electronics, SK Hynix, POSCO, LG Chem, Hanwha Solutions, Doosan Enerbility, GS Energy, LS Electric, Korea Zinc, Korea Electric Power Corporation, and Korea Energy Agency participated as promoters, elected executives, and deliberated and approved the articles of incorporation, business plans, and budgets. Lee Hoe-sung, former chairperson of the Intergovernmental Panel on Climate Change (hereafter IPCC), was elected as chairman.

Lee Hoeseong, Chairman of the CF Federation

The IPCC is the most authoritative international organization in the field of climate change, jointly established by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP) in 1988, and remains actively engaged. Former Chairperson Lee served as vice-chair for seven years and chair for eight years at the IPCC, completing his term at the end of July this year.

In his inaugural speech, Chairman Lee Hoe-sung emphasized, "The CF Alliance will contribute to making Korea a leader in the carbon-free economy era of the 21st century," adding, "We will make Korea a country that others benchmark." Jang Young-jin, First Vice Minister of the Ministry of Trade, Industry and Energy, said, "The Ministry of Trade, Industry and Energy and the government will spare no effort to actively support the CF Alliance so that it can lead international discussions and establish a global status."

Industry participants, including member companies, expect that the spread of carbon-free energy will greatly help enhance competitiveness and look forward to active roles from the CF Alliance and the government. Woo Tae-hee, Vice Chairman of the Korea Chamber of Commerce and Industry, stated, "Carbon-free energy is a concept that encompasses RE100, meaning that companies have a broader range of options for carbon reduction," and added, "The Chamber will also actively support the activities of the CF Alliance."

Meanwhile, Carbon Free Energy (CFE) is a concept that complements the shortcomings of renewable energy (RE100), which companies currently participate in, to realize a carbon-neutral society. RE100 is a campaign proposed by The Climate Group, a UK-based non-profit organization, aiming to supply 100% of electricity consumption by 2050 from renewable energy sources such as solar, wind, hydro, and geothermal.

Domestically, major companies such as Samsung, Hyundai, SK, and Naver have expressed their intention to participate in RE100 but have voiced practical difficulties. RE100 limits the means of implementation to renewable energy such as solar and wind, which is difficult to achieve given domestic conditions. There is also criticism that RE100 does not sufficiently consider different environments by country and region, acting as an invisible trade barrier.

[Image source=Yonhap News]

President Yoon proposed the CF Alliance at the UN General Assembly as a platform to bridge the climate gap between developed and developing countries for these reasons. Carbon-free energy recognizes hydrogen and nuclear power, in addition to renewable energy, as carbon-neutral energy sources. UN Energy, a UN energy cooperation organization, and the 24/7 CFE Initiative led by Google recognize nuclear power and hydrogen as energy sources with no direct carbon emissions.

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