Opportunities in the Korean energy transition to renewables
What
- To achieve its target of 20% renewable energy generation by 2030 and meet the Nationally Determined Contributions (NDC) goals, Korea has been focusing energy transition to renewables. Hydrogen related industries could be a lower hanging fruit to explore strategic partnership with the foreign companies.
- The greater Seoul region, which includes Seoul and Gyeonggi province, is a home for one-fifth of Korea’s population and hosts energy intensive facilities, such as Semiconductor clusters and data centres, which will be more than double demand of electricity and energy due to the plans of mega semiconductor cluster and AI data centres. To be able to meet the demand of electricity, relevant technologies to secure stable energy are needed.
Also, solar and wind power facilities are mainly located in southern regional areas. This highlights the growing societal need for energy decentralization and increased investment in the power grid to meet the concentrated power demand in the capital region.
How
- Swedish companies have competitiveness with their sustainable and innovative solutions that can accelerate the green transition. By leveraging its brand – clean/ sustainable and pioneer in the transition, Swedish companies would benefit on:
- The market expansion
- Sales acceleration
- Building awareness through media activities and multi-company programs
Call to action
- Business delegation to Sweden to visit renewable energy project sites, e.g. offshore wine farms
- Sweden+Korea Green Transition Alliance
- contact kang@business-sweden.se for more details.