Gov. Neil Abercrombie and officials from the Republic of Korea signed an agreement Friday to work together on smart grid technology:

MKE and its Korea Smart Grid Institute (KSGI) have been at the forefront of the Korea Smart Grid Roadmap, South Korea’s plan to develop and implement a nationwide smart grid by 2030. The MKE and KSGI are currently leading more than 170 South Korean companies in the development and deployment of the Jeju Island Test Bed, a planned 6,000 household smart grid community demonstration project in South Korea, with investments totaling more than $240 million between 2009 and 2013. KSGI is also currently implementing a joint Korea-State of Illinois project to install energy-saving equipment in at least four Chicago buildings with investments of more than $35 million by companies such as LG Electronics and KT Corporation (formerly known as Korea Telecom).   

The goal of the partnership between Korea and Hawai’i is to develop a memorandum of understanding for a project in Hawai’i similar to those mentioned above. Such a partnership would help both partners achieve the mutual goals of smart grid development and deployment, which ultimately improves energy efficiency and promotes economic growth.