SEOUL, Sept. 7 (Korea Bizwire) — President Moon Jae-in said Tuesday that South Korea will scale up its solar and wind energy production facilities by more than twofold within four years as part of the government’s new carbon neutrality policy. “By 2025, we will expand the scale of solar and wind-related facilities by more than [...]
SEOUL, Aug. 25 (Korea Bizwire) — Close to two thirds of renewable energy companies in South Korea are skeptical about the government’s plan to raise the ratio of renewable energy supply to 20 percent of total power output by the year 2030. According to a survey conducted by the Korea Chamber of Commerce and Industry [...]
SEOUL, June 3 (Korea Bizwire) — Korea Electric Power Corp. (KEPCO), South Korea’s state-run utility, said Wednesday that it will launch a new renewable energy transaction service through its energy marketplace EN:TER. The new renewable energy transaction service consists of the ‘My Power Plant Service’ and the ‘Green Premium Bidding Service.’ The My Power Plant [...]
CHANGWON, May 6 (Korea Bizwire) — The southeastern city of Changwon, South Gyeongsang Province is rising as a platform to develop South Korea’s high-altitude wind power technology, the newest addition to a series of renewable energy sources. The Korea Electrotechnology Research Institute, state-run utility Korea Electric Power Corp., and the municipality of Changwon recently held [...]
SEOUL, April 19 (Korea Bizwire) — South Korea said Monday it has revised the renewable portfolio standards (RPS) system to have power companies utilize more sustainable resources, in line with the country’s green energy drive. Under the new rules, power companies are requested to produce up to 25 percent of all their power output from [...]
SEOUL, April 8 (Korea Bizwire) — The government has launched a drive to reduce the carbon emissions of existing industrial complexes by more than 25 percent by transforming them into ‘smart green industrial complexes’ on a step by step basis and promoting business innovation activities. On Wednesday, the Ministry of Land, Infrastructure and Transport confirmed [...]
SEOUL, March 30 (Korea Bizwire) – LG Electronics Inc. said Tuesday it has joined hands with local partners to develop renewable energy technology and achieve carbon neutrality. Under the partnership with Korea Water Resources Corporation and POSCO, the country’s largest steelmaker, LG will collaborate in building a renewable energy cluster here. The three will work [...]
SEOUL, March 4 (Korea Bizwire) — The government has decided to transfer surplus renewable energy generated on Jeju Island to the mainland as it is becoming a major cause of frequent arbitrary shutdown of power generators. Jeju’s output of renewable energy jumped in proportion from 9.3 percent in 2016 to 16.2 percent last year. Rapid [...]
SEOUL, Feb. 26 (Korea Bizwire) — Criticism is rising against the government’s push for renewable energy, with many claiming that government policies are directly responsible for the devastation of the natural environment across the country. Critics specifically point at solar generation facilities and wind turbines built in mountainous areas, and solar panels set up on [...]
SEOUL, Jan. 25 (Korea Bizwire) — While renewable energy generation facilities are expanding rapidly on the back of the government’s policy to expand the distribution of new and renewable energy, the share of renewable energy among total power generation still remains negligible. The overall capacity of the nation’s renewable energy facilities expanded by 4,485 megawatts [...]