Environment ministry signs energy security pact with IEA to launch RISE Asia

The environment ministry signed a memorandum of understanding with the International Energy Agency on Thursday to launch the Resilient and Integrated Strategy for Energy Security in Asia, known as RISE Asia.

The pact, concluded at the Four Seasons Hotel in Seoul, serves as a concrete follow-up to a proposal made by President Lee Jae-myung during the recent Group of Seven summit to strengthen supply chain resilience in the Asia-Pacific region. The initiative comes as geopolitical instability in the Middle East and extreme weather events, such as recent floods in Nepal, have highlighted the vulnerability of fossil fuel-dependent economies.

Under the framework, South Korea and the global watchdog will collaborate on accelerating the transition away from imported fossil fuels toward renewable energy and electrification.

Fatih Birol, executive director of the IEA, described the current situation as a severe crisis comparable to the oil shocks of the 1970s, noting that it forces a fundamental re-examination of national energy strategies. He praised South Korea for taking the lead in presenting a proactive vision for the region, noting that the ability to supply stable and clean power will increasingly determine national industrial competitiveness.

"Recent instability in the Middle East and floods in Nepal show that energy security and the climate crisis are not separate issues but transnational crises that cannot be solved by one country alone," said Kim Sung-hwan, minister of climate, energy and environment. "Energy security and climate response are not a choice between two; they are tasks to be achieved together."

Kim added that the country aims to lead the construction of a resilient power system centered on renewables through the initiative. The ministry plans to work with the IEA to finalize detailed implementation plans for the strategy, aiming to develop the framework into a representative international cooperation platform for South Korea.