South Korea unveils massive investment plan for clean energy - The Times of India

South Korea unveils massive investment plan for clean energy - The Times of India

South Korea Wednesday unveiled a five-year plan to spend 36 billion dollars developing renewable energy as its next economic growth engine.

The plan, approved at a meeting chaired by President Lee Myung-Bak, aims to transform South Korea into one of the world's five top players in renewable energy.

South Korea will spend about 40 trillion won -- seven trillion won in state money and 33 trillion won from private businesses -- on new renewable energy projects by 2015, the Ministry of Knowledge Economy said.