Renewable energy sector likely to post sales of 8.1 trillion won

South Korea’s fast growing renewable energy sector is expected to post sales of 8.1 trillion won (US$7.16 billion) in 2010, from US$4.6 billion last year. The sector covers solar cells, wind power, biofuel, terrestrial heat and advanced fuel cells. According to the survey, the sector is expected to draw 3.9 trillion won (US$3.44 billion) in private sector investment this year, up 27% from a year ago, and will hire 11,715 workers, up 28% year-on-year. The ministry said the survey which is taken from 150 local companies from April 2009 through March 2010, showed that businesses are likely to focus on solar cell and wind power. (April 6, 2010)