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Public Investment in Energy R&D to Exceed 1.8 Trillion Won in 2011 Updated: 2010-12-16 00:00:00 KST

Public investment in energy research and development is expected to exceed 1.8 trillion won or nearly 1.6 billion US dollars next year.
This is according to the Ministry of Knowledge Economy which organized investment plans for 2011 put forth by the government, nine public companies and five research institutes.
The ministry held a meeting on Thursday with energy-related firms and institutions to discuss investment and policy directions.
To start with, the Korean government plans to increase its spending on energy R&D next year by 3 percent compared to 2010 to more than 1 trillion won or 880 million dollars.
This is the first time the government's investment in the sector surpassed the 1 trillion won mark.
The figure includes 358 million dollars that will go to five research institutes.
And nine major energy-related public businesses are expected to increase their investment by 2 percent to a total of 803 million dollars in 2011.
Korea Electric Power Corporation, for instance, is expected to concentrate its investment in eight major green technologies such as nuclear power plants and smart grids.
Korea Hydro and Nuclear Power Corporation plans to develop the "Advanced Power Reactor +" and a nuclear construction code in order to strengthen its competitiveness in the global market.
Based on such investments, the ministry is expected to establish a strategic road map to reduce greenhouse gas emissions and to further develop green energy during the first half of next year.
Eoh Jin-joo, Arirang News.
KOGL : Korea Open Government License
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