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Industry Ministry outlines blueprint for energy R&D

Published: 18 Dec. 2024, 11:22

Wind turbines in Jeju [YONHAP]

The Ministry of Trade, Industry and Energy on Wednesday unveiled a blueprint for government investment in energy research and development projects to maintain a stable power supply using carbon-free sources.

The energy technology development plan, effective through 2033, is expected to generate an economic effect of 59 trillion won ($41 billion), according to the Industry Ministry.

Under the blueprint, the country aims to achieve a technological self-sufficiency rate of 90 percent in the energy sector by 2033, up from the current estimate of 80.6 percent.

The government will also focus on achieving a diverse portfolio of clean energy encompassing nuclear power, renewable sources and clean hydrogen, supporting the development of small modular reactors and next-generation tandem solar cells.

The plan includes efforts to build a more efficient power grid system, partly based on enhancements to energy storage capacity.

The government will also support the commercialization of research project outcomes, encouraging companies to develop "the best and the first" energy technologies.

"We will reflect the blueprint in the government's research and development investment strategy to achieve carbon neutrality and enhance energy security," Director General for Energy Policy Choi Yeon-woo was quoted as saying.

Yonhap