Energy-Saving News

South Korea Invests $85 Billion In Green Technology

Posted on 07. Jul, 2009 by Ross in Asia, Government Policy

South Korea has whole-heartedly taken the opportunity to join the industrial scramble for domination of the world’s green technologies by announcing its plans to invest 107 trillion Won ($85 billion) in renewable energy, energy efficiency and other environmentally-friendly innovations.

The massive government funding is scheduled over the next five years and represents 2% of the country’s gross domestic product. The Korean government is aiming to ramp up energy efficiency, boost solar and wind power generation, enact carbon trading systems and create incentives for biofuels, hybrid cars and other green technologies. A presidential statement said:

The aim is for South Korea to become the world

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1. South Korea: Leading The World The Wrong Way In Carbon Emissions
2. South Korean Energy Prices On The Up
3. Climate Change Technology Transfers Will Explode With New Green Patent Database
4. US Renewable Energy Drive Will Aid Drought-Stricken South
5. Copenhagen Conundrum 6: Technology Transfer v Green Jobs

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Tags: energy efficiency, government, investment, South Korea