South Korea's SK On signs energy storage battery deal with US firm NeoVolta Power

Energy officials from South Korea and the United States convened in Seoul on Monday to explore avenues for enhancing bilateral collaboration within the energy sector, as global market uncertainties continue to rise, according to the country's Ministry of Climate, Energy and Environment. The meeting brought together South Korea's Second Vice Climate Minister, Lee Ho-hyeon, and his U.S. counterpart, acting Assistant Secretary Curt Coccodrilli, to deliberate on policy initiatives designed to safeguard stable energy supply chains and power supplies, the ministry reported.

The discussions centered on key energy security concerns that necessitate a collective response, notably the resilience of power grids in the face of escalating electricity demand and the acceleration of energy storage systems (ESSs), the ministry elaborated. Lee Ho-hyeon emphasized that securing stable energy supply chains and power supplies forms the foundation of a nation's industrial competitiveness, underscoring the anticipation that the meeting would facilitate joint strategies to navigate growing market uncertainties and fortify bilateral energy cooperation between the two nations.