Bonus rates are tiered based on individual reductions in electricity use, which can be verified via the Green Building Portal (greentogether.go.kr), linked to the national Building Energy Integrated Management System. (Image supported by ChatGPT)
SEOUL, May 12 (Korea Bizwire) — In a new step toward carbon neutrality in the building sector, the South Korean government has introduced a savings program that rewards citizens with higher interest rates if they reduce their electricity consumption.
The Ministry of Land, Infrastructure and Transport announced Sunday the launch of the “Energy-Saving DooDream Savings” product, in partnership with Standard Chartered Korea.
The one-year term deposit offers a base interest rate of 2.6%, with bonus interest rates up to an additional 3.5% depending on the amount of electricity saved between June and November compared to the same period in 2024.
Applicants must sign up through SC Korea’s mobile banking app between May 12 and May 23. Monthly contributions are capped at 1 million won. Bonus rates are tiered based on individual reductions in electricity use, which can be verified via the Green Building Portal (greentogether.go.kr), linked to the national Building Energy Integrated Management System.
Unlike earlier programs that primarily targeted small businesses, this new offering is open to all citizens and is part of a broader initiative to scale public participation in emissions reduction. The ministry plans to roll out the program quarterly through the end of 2025 to reach as many participants as possible.
“This initiative not only offers direct financial benefits but also gives individuals a chance to actively contribute to the nation’s carbon reduction goals,” said Hong Sung-joon, Director of the Green Architecture Division. “We will continue to expand the use of energy data in our integrated management system to make energy-saving a routine part of everyday life.”
M. H. Lee (mhlee@koreabizwire.com)
