Ministry pledges 100 billion won to green energy studies

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Ministry pledges 100 billion won to green energy studies

The Korean government will invest about 100 billion won ($87.8 million) into empirical research on various energy technologies this year, officials said Tuesday.

The Ministry of Trade, Industry and Energy unveiled the investment plan during a meeting with energy experts at a regional office of the Korea Electric Power Corporation in Seoul.

The plan calls for increasing the government’s spending on empirical research into new energy technologies by 24 billion won from last year to about 100 billion won in 2017, the officials said, noting that smart grids, new renewable energy and energy storage systems will be intensively studied. Empirical research is indispensable to the commercialization of new energy technologies to enhance safety and performance, they said. YONHAP

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