S. Korea to invest 12 tln won in green growth

SEOUL, May 13 (Yonhap) -- The South Korean government will invest 12 trillion won
(US$9.6 billion) over the next three to four years into developing green
technologies that will create half-a-million jobs, as it pursues an ambitious
eco-friendly project, a presidential council said Wednesday.

The Presidential Committee on Green Growth released details of the blueprint,
part of the "Green New Deal" announced early this year. The project focuses on
green industries as a new economic engine.
President Lee Myung-bak has repeatedly stressed that new, environmentally
friendly technologies will not only boost the country's economic competitiveness,
but will be the stepping stone for South Korea to emerge as a world leader.
The plan allocates 4.2 trillion won to be spent until 2013 on developing green
information technology products, bolstering Internet infrastructure and building
efficient, low-carbon transit systems.
IT products made up roughly 34 percent of South Korea's exports in 2007, but
experts say they are about to face new, tougher environmental restrictions from
Europe and other regions.
Research and development of other various green technologies, such as
high-efficiency solar batteries and hybrid vehicles, will also receive 8.4
trillion won in investment until 2012.
The project is expected to create 530,000 new jobs, officials said.
Meanwhile, the Ministry of Knowledge Economy will carry out a 900-billion won
plan to enhance overall energy efficiency and develop renewable energy sources.
The education ministry also has plans to encourage research and development in
the green energy sector.
brk@yna.co.kr
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