Gov't to inject 174 bln won to support energy tech research this year

By Lee Joon-seung
SEOUL, April 5 (Yonhap) -- The government on Sunday announced an injection of
174.4 billion won (US$130.3 million) for research and development (R&D) in the
country's crucial energy sector.
The Ministry of Knowledge Economy said the R&D support will be centered on
technologies related to reusable energy, electric power, waste management and
hightech parts and systems production.
"Emphasis has been placed on implementing countermeasures to deal with climate
change, dwindling energy resources, finding new sustainable growth engines and
job creation," a official said.
He said of the 250 individual projects to get R&D support in the coming months,
34 are mid-to long-term projects that will receive 109.9 billion won or 63
percent of money set aside for the year, with the remainder to be given out to
216 short-term projects.
Projects to get support include technology to capture carbon dioxide (CO2) gases
cited for causing global warming, finding ways to find small-sized oil and gas
wells and recycling of battery cell modules.
CO2 capturing is an issue of increasing urgency to South Korea as Seoul comes
under mounting pressure to take part in global efforts to cut back on greenhouse
gases. The country is the ninth largest producer of CO2 in the world.
Developing technology to find small-sized oil and gas deposits could help improve
the country's effort to development overseas energy resources to reduce its near
total dependence on foreign fossil fuel resources. Recycling technology can
reduce waste and save valuable materials that the country usually imports.
Other projects to get state R&D money are systems development to make wind farms,
creating highly efficient bio-gas turbines for cogeneration plants and advanced
metering infrastructure that is vital for ongoing efforts to build a "smart-grid"
that can change the way people use electricity.
Smart-grids could help reduce electricity use, allow various reusable energy
sources to be incorporated into the main power line, and can permit ordinary
people to store and use energy.
Funds, in addition will be diverted for use to make key components for locally
designed atomic reactors and how best to move and store used nuclear fuel.
The latter is a important since South Korea's ability to store spent fuel rods
in temporary holding facilities will reach full capacity by 2016.
The ministry in charge of the country's industrial and energy policies said
building up competitiveness in these areas is vital for economic growth and to
create fresh jobs.
yonngong@yna.co.kr
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