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 [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea will roll out the K-RE100 system this year to enable domestic companies to procure renewable energy at home, the Ministry of Trade, Industry and Energy said Tuesday. The K-RE100 system is designed to allow electricity consumers to purchase and use renewable energy on a selective basis. RE100, [...]
SEOUL, Dec. 24 (Korea Bizwire) – South Korea will close aging coal power plants and retire nuclear reactors to accelerate its shift toward renewable energy by 2034, the energy ministry said Thursday. The Ministry of Trade, Industry and Energy announced its ninth basic plan for long-term electricity supply and demand from 2020 to 2034 in [...]
SEOUL, Nov. 9 (Korea Bizwire) — Shares of South Korean battery makers and renewable energy suppliers got a fresh boost Monday as investors bet on Joe Biden’s win in the U.S. presidential election with clean energy pledges. Biden’s green energy plan includes significant investments in charging infrastructure for electric vehicles (EVs) and updating government vehicle [...]