[THE INVESTOR] The government will invest 10.5 trillion won (US$9.1 billion) into renewable energy in collaboration with the private sector, the Ministry of Trade, Industry and Energy said on June 23.

In a press release before a parliamentary briefing on the same day, the ministry said that it will focus on issues concerning electric vehicles, solar power, energy storage systems and other energy-related fields. 



The ministry said that it will roll out measures to improve conditions for electric vehicles, and expand the market. As part of the plans, it will seek to change relevant regulations to allow the installation of electric car recharging facilities at petrol and liquefied petroleum gas stations. LPG is used as motor fuel in Korea.

Improving the economics of solar power and energy storage systems is also on the ministry’s agenda. As part of the plans, the ministry plans to support solar power-ESS export projects, and invest in renewable energy projects.

By Choi He-suk (cheesuk@heraldcorp.com)