Seoul, July 13 (IANS/WAM) South Korean companies plans to invest 22.4 trillion won ($18 billion) in eco-friendly technologies over the next three years, a presidential committee said Tuesday.
The investment would mark a 48.2 percent increase from the 15.1 trillion won the companies spent in the past three years, the committee said.
A breakdown of the investments would include 8.9 trillion won on clean energy, 5.3 trillion won for development of hybrid cars and 4.3 trillion won for next-generation electric devices.
During a meeting of the Presidential Committee on Green Growth, President Lee Myung-bak stressed the importance of green technology to support the government’s green growth campaign.
‘(We) should develop all materials related to (green) technology and advance into the global market with 100 percent of our own technology,’ Lee said. ‘In the era of green growth, we should make original technologies.’
The Lee administration had announced a plan to cut the country’s carbon emissions by 30 percent from a 2020 forecast, a four percent decrease from the levels projected in 2005.
–IANS/WAM
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