New Minister of Trade, Industry and Energy Paik Un-gyu says now is the right time to take the lead in phasing out nuclear and coal-fired power plants while promoting new and renewable energy.
 
Paik made the remark during his inauguration on Monday.
 
The new minister said comparing the economic efficiency of nuclear power plants with that of new and renewable energy based on current technological levels is a narrow-minded approach that has failed to take into account the levels of future markets and technologies.
 
Paik said a shift in energy paradigm would be beneficial for future energy industries’ competitiveness and for the stable supply of energy.
 
Paik said that given how closely related energy policies are to people’s everyday lives, he will place focus on bringing about social consensus on such policies after carrying out extensive discussions with experts and ordinary citizens.
 
On the U.S.’ request to seek revisions to the South Korea-U.S. free trade agreement, Paik said Seoul will squarely address the call based on the principles of maximizing national interests and maintaining balance of interests.
 
Paik said he will devise a one-stop support system for companies suffering from trade protectionism and China's retaliation over the deployment of the U.S.-led THAAD antimissile system on the Korean Peninsula.