S. Korean firms support government`s `green growth` plan

SEOUL, Feb. 18 (Yonhap) -- More than 70 percent of South Korean companies support
the government's "green growth" strategy to promote the renewable energy
industry, saying it would help improve the local economy and create jobs, a
survey showed Wednesday.
The government of President Lee Myung-bak, who will mark the first anniversary of
his inauguration next week, has touted the "low carbon, green growth" plan as the
resource-poor nation's new economic vision for coming decades.
In a statement, the Federation of Korean Industries said 72.6 percent of the 300
companies surveyed expected the strategy to help improve the economy.
Also, 41.4 percent of the surveyed firms expressed a willingness to spend their
money for the government's initiative, FKI said.
Under the strategy, South Korea, which imports almost all of its oil, plans to
increase the use of renewable energy to 11 percent of total supplies by 2030,
from the current two percent.
To meet the target, the government said it will spend 28 trillion won (US$19.2
billion) and encourage private companies to spend 72 trillion won for the plan.
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