South Korea Injecting 40 Trillion KRW Into Renewable Energy : Renewable Energy News
South Korea is banking on the global renewable energy economy reaching $400 billion per year by 2015, and it is willing to invest 40 trillion KRW - roughly $36 billion USD - in solar, wind and other clean energy technologies to set the nation up for the future.
Speaking yesterday at a Seoul meeting on regional green growth under the theme, "The Power of Opening the Future: Sun, Wind and Water," South Korean President Lee Myung-bak said a booming renewable energy economy would become his administration's legacy to the people.
The government agency responsible for the policy, The Ministry of Knowledge Economy, claims the massive investment will create 110,000 new jobs and provide South Korea with an eventual 15 percent share of the renewable energy market.
Friday, October 15, 2010
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