The state-owned Korea Water Resources Corporation (K-water) pledged to adopt environment, social and governance-focused (ESG) management with the goal of improving water safety and public welfare.
Hanwha Q Cells will further embrace renewable energy through a program run by the Industry Ministry.
According to budgets submitted to the boards of directors of each of the power companies each projects net losses between 200 and 300 billion won ($181 million to $271 million).
The number of power plants fueled by coal and nuclear power will be dramatically reduced by 2034 and replaced with renewable energy sources. It is a step toward achieving carbon neutrality by 2050.
A new electricity billing system that adjusts to changing international fuel prices will go into effect on New Year's Day. That will give consumers break if they go down, but will cost them if they go up.
Eight SK Group affiliates will become the first group of Korean companies to join the Renewable Energy (RE) 100 global initiative to embrace renewable energy sources by 2050.
The number of energy-related start-ups will be increased to 4,000 under a government plan that will focus on six sectors. The government laid out a support strategy on innovative energy companies as part of the Green New Deal.
The project is led by Saemangeum Development and Investment Agency (SDIA), a government agency that is part of a larger project to develop a new economic hub on the west coast.