Overseas buyers expect S. Korea's 'green tech' to catch up with global leaders

SEOUL, Dec. 2 (Yonhap) -- Overseas buyers are forecasting that South Korea's
"green technology" industries will catch up with global leaders in five years, a
poll by an umbrella trade association showed Wednesday.
The survey conducted by the Korea International Trade Association (KITA) showed
70.9 percent of all respondents expected local companies to overcome the current
gap in the eco-friendly technology sector within the cited period.
It said buyers from 50 foreign companies predicted South Korean businesses
involved in the light emitting diodes (LEDs), solar energy, wind power and
rechargeable battery industries would reach parity with foreign rivals.
KITA said that of all respondents, 45.8 percent said South Korea's green
technology levels stood at 80-90 percent of present industry leaders in such
countries as the United States, Japan and Europe. A further 29.2 percent of all
buyers said technology levels stood at 70-80 percent of leaders.
Foreign businessmen, meanwhile, said that in order to boost the competitiveness
of local green technology businesses and make them into viable exporters, the
government must strengthen financial support, allocate more funds to research and
development and engage in more marketing efforts.
yonngong@yna.co.kr
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