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.  
  • 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 

Join the Sweden+Korea Green Transition Alliance (https://kr-greentransition.swedenalliances.com/) to capture the opportunities.  

  • The alliance is the first alliance made up by foreign companies in Korea that supports Korea ambition of becoming a green carbon neutral society by 2050, launched on Earth Day in 2021. 
  • This is a long-term promotion project by Team Sweden, aiming to position Sweden and Swedish companies as Top 3 partner to support South Korea’s road to Green Transition and Carbon Neutrality by 2050. 
  • The alliance will be a joint communication and branding platform for the member companies synergizing the strengths of different companies and organizations to achieve long-term business goal and green growth in Sweden and in Korea. 

 

CONTACT US 

For more information, contact Josie Ryu at josie.ryu@business-sweden.se.