Kwangjin Cheong, Head of Korea at Vena Energy, shared his insights with Korea Economic Daily – Hankyung, on the renewable energy industry and Vena Energy’s commitment to accelerating the energy transition in Korea.
*Original article is in Korean. Continue reading for the English translation.
As the global renewable energy transition accelerates, South Korea must seize the opportunity to build a more sustainable and resilient energy future. In this context, the support for renewable energy development has never been more crucial.
As a person who has been working in renewable energy industry, I see South Korea as the ideal place to realize sustainability and innovation. South Korea’s initiatives in offshore wind, onshore wind, solar power, and energy storage systems present a promising landscape for economic and environmental transformation through energy transition.
These efforts are laying the foundation for a cleaner, more sustainable energy future, showcasing the country’s dedication to renewable energy and its pivotal role in the global energy transition.
A significant reason for South Korea to accelerate this transition lies in the country’s need for energy independence. South Korea currently imports around 93% of its energy—primarily coal, oil, and natural gas—from foreign markets such as the Middle East, Australia, and the U.S. This heavy reliance on imports not only exposes the country to global market fluctuations but also to geopolitical risks and supply chain disruptions. By diversifying its energy sources and investing in renewables such as solar, wind, and tidal power, South Korea can reduce its dependence on foreign energy, increase its energy security, and build a more self-sufficient future.
At Vena Energy, we are committed to contribute to this vision. As a leading Green Solutions provider in the Asia-Pacific region, we entered the Korean market with the promise of delivering independent clean energy solutions, which help to strengthen the nation’s energy security. Our efforts are already underway; with two offshore wind projects and two onshore wind projects in advanced stage of development. and a pipeline of additional green solutions which will further contribute to Korea’s own energy sources.
In light of recent global supply chain disruptions and energy crises, markets like South Korea—heavily reliant on imports—are especially vulnerable to energy shortages. The energy crisis in Europe in 2022 illustrated just how swiftly geopolitical shifts can disrupt energy availability and prices. As a nation with limited fossil fuel resources, South Korea has a unique opportunity to enhance its resilience by tapping into green solutions, which can offer a stable, domestic source of power.
Beyond energy security, renewable energy projects generate significant economic benefits. Large-scale infrastructure development, job creation, and regional economic revitalization are direct outcomes of these projects. Collaboration with domestic businesses also encourages knowledge-sharing and technological advancements, enhancing South Korea’s global competitiveness in the renewable energy sector and providing a new trade opportunity to export state-of-the-art Korean-developed equipment and sophisticated technologies.
Focusing on green solutions, South Korea’s push for energy independence also aligns with essential decarbonization goals, reducing carbon emissions and contributing to global climate commitments. By prioritizing renewable energy over fossil fuels, South Korea can decrease its carbon footprint significantly, supporting both local and international environmental targets.
