The Korea Power Exchange held its ninth annual conference on the electricity market Wednesday in an effort to share its know-how on electricity management and countermeasures to electricity shortages.

The ninth Seoul International Conference on the Electricity Market kicked off at InterContinental Seoul COEX, with the participation of developing countries such as Ethiopia, Mongolia, Myanmar and Vietnam.

The corresponding states have recently been pressured by soaring demand for electricity, triggered by the quickly growing economy, and are striving to establish a sustainable electricity management system, according to officials.

“We have invited key electricity policymakers from Asian and African states, with the aim to seek mutual growth and overseas business opportunities,” said Nam Ho-ki, CEO and chairman of the KPX, in his opening speech.

Han Jin-hyun, vice trade minister in charge of trade and energy, also stressed the importance of collaborating with countries that are strong in natural resources.

Shortly before the opening ceremony, the KPX signed a memorandum of understanding on electricity management with the Ethiopia Electric Power Corp. and the National Dispatching Center of Mongolia’s Power System Corporation.

“Though we have recently been preoccupied with the electricity supply shortage caused by the nuclear reactors’ shutdown, we took this conference as an opportunity to display our emergency countermeasures and other management know-how,” said a KPX official.

By Bae Hyun-jung (tellme@heraldcorp.com)