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Green Energy
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Green Energy

With the stated goal of sustaining 10% of Korea’s energy demand via renewable energy by 2022 there has been constant growth in this industry. Since 2007 the renewable energy industry has been grown at 20% CAGR.

As Korea moves towards a carbon emission trading scheme there will be many opportunities for companies to assist the large agglomerations of heavy industries from final manufacturers in shipbuilding, automotive and mobile to more upstream B2B suppliers in steel, advanced materials and petrochemicals.

Daegu-Gyeongbuk has excellent infrastructure for both the growing renewable energy sector and also helping existing companies move to a carbon-limited environment. The progressive industry environment has attracted new investments from ExxonMobil, New Nippon Oil, Hyundai IHL, and POSCO Power since 2008.

In 2011 the Daegu Metropolitan Government invested 40 Trillion won in the development of cleaner sources of energy. Thus far this has resulted in a number of key initiatives including

  • Korea’s first solar power tower delivering 200 kilowatts the city’s grid
  • A major landfill gas-to-energy facility that since 2006, has provided the city with 1.5 megawatts of energy per hour.
  • Street lights that generate their own power via solar panels or wind turbines
  • Car ports fitted with solar power roofs.
  • Fiber board slates made by Hyundai Industrial Trident which reuses discarded fibers (trash) from the garment and textile industries in and near Daegu to create non-toxic corrugated roofing material.

In 2013 Daegu successfully hosted the World Energy Congress which focused on improving energy usage.

The growth of sustainable or green energy in DGFEZ is clear and vital to all our futures.

  • For more information about Green Energy Industry, download the full report here PDF