South Korea, the world’s ninth- largest greenhouse gas emitter, plans to spend 35.5 trillion won ($31 billion) by 2020 to develop technology for renewable and nuclear energy and carbon emissions reduction.
The investment is part of the nation’s road map to grab a 10 percent share of the world’s clean-energy market and have one of the world’s top five energy industries by 2020, the Ministry of Knowledge Economy said in an e-mailed statement.
South Korea wants to build its capabilities in alternative and nuclear energy and is spending 1 trillion won this year for preferential payments to renewables projects. The country also wants to cut reliance on oil and is expanding the use of cleaner-burning energy amid increasing concerns about the environment.
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