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The following article was published in our article directory on October 12, 2010.
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South Korea to Actively Support the Development of New Energy Industry

Article Category: Business

Author Name: xia zihui

South Korea early start in the development of new energy sources, South Korea 80 years from the 20th century began to attach importance to the development of new energy and renewable energy. Current president, Lee Myung-bak's "green growth plan," the government will further determine the new energy development as a priority project to support and promote. To this end, the South Korean government on the new energy and renewable energy research and development and popularization of new energy sources have given financial support.

Korea, scarce energy resources, oil, natural gas and coal heavily dependent on imports, in response to energy price volatility and other challenges, the Korean government to adjust the energy development strategy, increase energy conservation efforts to develop nuclear energy, new energy and renewable energy sources to to diversify energy supply.

First, new energy technologies to improve the competitiveness of South Korea plans to invest 9 trillion won by 2011 (1 U.S. dollar equals 1,114 won) for the new energy and renewable energy research and development. Feasibility study on the place, staff training and the promotion of local activities such as new energy development, the Korean government to give up the full subsidy. In addition, the South Korean government announced in July 2009, the next five years, plans to invest 107 trillion won for renewable energy and related industries to improve the efficiency of investment in equipment.

In order to promote new energy and renewable energy industry, South Korea developed a "loan and tax incentive programs," manufacturers and consumers to provide long-term low-interest loans. Equipment loans mainly for installation of new energy and renewable energy devices to consumers, business loans mainly for manufacturers. Loans of up to 90% of the total investment.

In order to promote new energy and renewable energy spread, the Korean government decided as early as 2002, government agencies and state-owned enterprises on the installation of new energy and renewable energy facilities to support it. From March 2004 to the end of 2007, the Korean government for public agencies on the installation of 414 total investment of $ 189,200,000 plan to support geothermal, solar thermal and solar battery and other equipment installed. The local installation of solar cells and wind turbines and other new energy and renewable energy installations, the Government's maximum subsidy of up to 70% of installation costs. In addition, the South Korean government has also formulated the "100,000 Solar Roofs Plan" and other special programs to benefit ordinary people. Under the plan, government-funded help residents install solar roof, and plans to install 10 million units by 2012, 3 kW solar power system for civil.

The South Korean government support for the development of environmentally friendly cars is also worth mentioning. For example, the Korean government decided in July 2009 until the end of 2012 introduced tax breaks for hybrids. As a rule, when consumers buy hybrid vehicles, will enjoy the personal consumption tax, registration tax, education tax and other aspects of tax breaks, buy a car can save up to 3.3 million won. Meanwhile, the price is too high to solve the problem, the Korean government on the purchase of new energy vehicles for financial subsidies.

South Korea early start in the development of new energy sources, South Korea 80 years from the 20th century began to attach importance to the development of new energy and renewable energy. Current president, Lee Myung-bak's "green growth plan," the government will further determine the new energy development as a priority project to support and promote. To this end, the South Korean government on the new energy and renewable energy research and development and popularization of new energy sources have given financial support.

Korea, scarce energy resources, oil, natural gas and coal heavily dependent on imports, in response to energy price volatility and other challenges, the Korean government to adjust the energy development strategy, increase energy conservation efforts to develop nuclear energy, new energy and renewable energy sources to to diversify energy supply.

First, new energy technologies to improve the competitiveness of South Korea plans to invest 9 trillion won by 2011 (1 U.S. dollar equals 1,114 won) for the new energy and renewable energy research and development. Feasibility study on the place, staff training and the promotion of local activities such as new energy development, the Korean government to give up the full subsidy. In addition, the South Korean government announced in July 2009, the next five years, plans to invest 107 trillion won for renewable energy and related industries to improve the efficiency of investment in equipment.

In order to promote new energy and renewable energy industry, South Korea developed a "loan and tax incentive programs," manufacturers and consumers to provide long-term low-interest loans. Equipment loans mainly for installation of new energy and renewable energy devices to consumers, business loans mainly for manufacturers. Loans of up to 90% of the total investment.

In order to promote new energy and renewable energy spread, the Korean government decided as early as 2002, government agencies and state-owned enterprises on the installation of new energy and renewable energy facilities to support it. From March 2004 to the end of 2007, the Korean government for public agencies on the installation of 414 total investment of $ 189,200,000 plan to support geothermal, solar thermal and solar battery and other equipment installed. The local installation of solar cells and wind turbines and other new energy and renewable energy installations, the Government's maximum subsidy of up to 70% of installation costs. In addition, the South Korean government has also formulated the "100,000 Solar Roofs Plan" and other special programs to benefit ordinary people. Under the plan, government-funded help residents install solar roof, and plans to install 10 million units by 2012, 3 kW solar power system for civil.

The South Korean government support for the development of environmentally friendly cars is also worth mentioning. For example, the Korean government decided in July 2009 until the end of 2012 introduced tax breaks for hybrids. As a rule, when consumers buy hybrid vehicles, will enjoy the personal consumption tax, registration tax, education tax and other aspects of tax breaks, buy a car can save up to 3.3 million won. Meanwhile, the price is too high to solve the problem, the Korean government on the purchase of new energy vehicles for financial subsidies.

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