By Diplomacy Journal Lee Jon-young

President Yoon Suk-yeol met with International Energy Agency (IEA) Director General Fatih Birol at the Yongsan Presidential Office on Sept. 2. Birol is in Korea to attend the World Climate Industry Expo (September 4-6, Busan, Korea), which is jointly organized by the Korean government and the IEA.

The IEA is an international organization in the field of energy founded in Paris in October 1974 as a joint response to the energy crisis following the first oil crisis in 1973, and has 45 member and associate member countries that account for 75% of the world's energy needs. 

The IEA can decide on collective actions to be taken by member countries when energy supply and demand is threatened, and most recently, the IEA has authorized member countries to release a total of 180 million barrels of Strategic Petroleum Reserve (SPR) in March and April 2022 to help alleviate oil supply insecurity following the war in Ukraine.

The President welcomed Mr. Birol, noting that the second edition of the World Climate Industry Expo will feature more than 500 Korean companies in the fields of nuclear power, hydrogen, renewable energy, and key minerals, and that it is especially significant that the IEA, the leading international organization in the energy sector, and the Government of the Republic of Korea are jointly hosting the event.

In particular, the President thanked the IEA for its support for the Korean government's CFE initiative and its decision to join the global expansion of CFE, which he said is a realistic option to accelerate the achievement of the net-zero carbon goal, noting that in September last year, Yoon called on the international community at the UN General Assembly to “widely utilize high-efficiency carbon-free energy (CFE) such as nuclear power, hydrogen, and renewable energy.”

The President also appreciated the IEA's emphasis, under Director General Birol's leadership, on the role of clean energy in addressing the multiple risks of extreme weather events, geopolitical risks, and energy security crises across the globe, and noted that South Korea has successfully reconciled advanced manufacturing competitiveness and the environment by increasing the utilization of clean energy technologies. 

The President suggested that Korea's experience could serve as a good guide for developing countries looking to start manufacturing, and that the IAE and Korea should work together to create more best practices.

“Korea's CFE initiative is showing exemplary leadership in achieving climate goals while increasing energy security,” said Mr. Birole, adding that it is well aligned with the IEA's approach to providing safe, affordable and sustainable energy for all.

Mr. Birol also noted that nuclear power is experiencing a resurgence in importance among a growing number of countries, including Korea, as well as Canada, China, France, India, Japan, Poland, the United States, the United Kingdom, and the United Kingdom, due to its many benefits in combating the climate crisis and ensuring energy security.

He also commended Korea for its achievements in building reactors on time and on budget, and for leading the way in innovative technologies such as SMRs.

Prior to the meeting, the President awarded Mr. Birol the Order of the Diplomatic Relations Gwanghwa in recognition of his contributions to the global spread of carbon-free energy and his efforts to strengthen cooperation between Korea and the IEA.