South Korea expands renewable energy program

The government of South Korea will be expanding the distribution of renewable energy as part of its low carbon green growth policy. Renewable energy is seen as key to achieving the country’s goals of lowering carbon emissions. Figures released by the Ministry of Knowledge Economy (MKE) show that South Korea’s new renewable energy industry reached 8.08 trillion won (US$6.8 billion) in sales since its inception in 2007. Exports of renewable energy rose from US$626 million to US$4.54 billion from 2007 to 2010. The new industry is said to have created more than 30,000 jobs. Production volume grew from 5.61 million tons of oil equivalent (TOE) to 6.59 million TOE. MKE reports that it will be installing renewable energy facilities in 10 major green project spots, including post offices, schools, ports, islands, highways, logistic centers, factories, power plants, industrial complexes and military bases. (August 8, 2011)