Korea’s energy policy is bound to see further development towards green and renewable energy. It is expected for renewable energy to increase to 20% of total power generation by 2030, which translates into an investment of approximately € 7.2 billion.
Korea plans to reallocate the current coal and nuclear energy subsidies into the renewable energy industry, as well as impose high taxes on coal and nuclear power, increasing possibilities for natural gas and renewable energy producers.
There are concrete business opportunities for European companies specialising in low-carbon power generation, such as energy storage systems, technologies and solutions for energy prosumers, including smart grids, zero-energy buildings, and household photovoltaics.
Innovative European companies are invited to apply to the upcoming EU-funded business mission to Korea, and benefit from coaching, logistical, and financial support.
Deadline for application is 5 October 2018.