S. Korea to pour 252 bln won into reusable energy sector

SEOUL, Dec. 9 (Yonhap) -- South Korea will spend 252.2 billion won (US$174.7 million) in the next three years to build up clean, reusable energy as a future growth engine for the country, the government said Tuesday.

The Ministry for Knowledge Economy said funds will go into research and
development (R&D) of eight key technologies and manufacturing precesses in solar
and wind power generation and advanced fuel cells.
Of the total, the government will foot 158.8 billion won, with the private sector
contributing 96.4 billion won so local companies can produce power generation
machinery, manufacturing equipment and vital components.
The ministry in charge of the country's industrial and energy policies said South
Korean businesses plan to inject a further 8.5 trillion won to build plants and
manufacturing infrastructure by 2013.
"If the R&D efforts bear fruit, South Korea could possess the highest level of
technology in solar panel modules in 2013 and be able to grab 20 percent of the
world's market in related manufacturing machinery," a government official said.
He also predicted that R&D effort could allow the development of large-capacity 5
megawatt (MW) offshore wind generators and fuel cells designed for industrial
power generation. A 5MW wind generator would make the country fifth in the world
to build such machinery, with Seoul wanting to control 24 percent of the global
industrial fuel cell generation market in 2020.
The ministry, meanwhile, designated LG Electronics and LG Micron Ltd. as
developers of solar power-related technologies, with Hyosung being charged with
developing wind power generation.
Hyundai Motor Co., Samsung SDI and Doosan Heavy Industry and Construction Co. are
to work on the development of advanced fuel cells.
yonngong@yna.co.kr
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