Invest KOREA

(SEJONG=Yonhap News) The Ministry of Trade, Industry and Energy launched a national tour to provide information regarding all available incentives for participating in new energy industries.

Starting with the Gyeonggi region on Feb. 15, the tour will visit Daejeon, Daegu, Busan and Naju, explaining support for installing energy storage systems (ESSs) and electric vehicle (EV) charging stations, new energy industry projects carried out in cooperation with local governments, constructing smart clean-energy factories, and special fees for ESS installations.

Earlier, the Ministry had visited Ulsan last year on Dec. 19, and went on its first national tour last month, from the 17th to the 20th, holding info sessions in the cities of Ansan, Gwangju, Cheonan, and Wonju. This will be the 2nd such tour. 

At the sessions, real-life examples will be presented on how new energy industry consumer companies were able to lower their own expenses with government incentives. There will also be consultation booths intended to bring suppliers and consumers together, and induce investments.

This year, the government expanded its incentives for new energy industries to a total of KRW 44.3 billion, including KRW 6.8 billion for building ESSs or factory energy management systems, a KRW 800 million increase from what was provided the year before.

According to a Ministry source, "the Ministry plans to focus its support on vitalizing new energy industries," adding, "companies, once discouraged by high prices, will find the incentives now make it not only affordable but cheaper to invest in new energy industry products, and enjoy higher productivity.

eun@yna.co.kr

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Source: Yonhap News (Feb. 15, 2017)