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South Korea is where renewable energy firms cross paths
South Korea is where renewable energy firms cross paths
Wind-power producing facilities in Daegwallyeong
At last year’s United Nations Climate Change Conference in Copenhagen, Denmark, plans to build a global green growth research center and host the 18th post-Kyoto climate change conference in 2012 were unveiled by President Lee.
South Korea’s low-carbon, green growth strategies have since gained worldwide attention and, at the center of it all, is the renewable energy industry. At EXCO Daegu, for the 7th Daegu Green Energy Expo from April 7 to 9, visitors will be able to see the future of “Green South Korea” for themselves.
In early April, the world’s leading renewable energy firms will descend on South Korea's Daegu for what will be the largest Green Energy Expo so far. Last April’s exhibition drew more than 32,500 visitors, surpassing the expected attendance of 30,000. This year, 350 companies from 25 nations will set up 1,000 booths, making it not just the biggest renewable energy exhibition in South Korea, but one of the largest in Asia.
The lineup this year will include the traditional European renewable energy powerhouses, while the United States, Japan and South Korea will have beefed-up presences as well. Two of the biggest new stars in renewable energy, China’s Suntech Power and LDK Solar, will also be taking part.
Representing the United States will be DuPont, one of the world’s top chemical firms, and solar battery manufacturer SunPower, which has developed the most energy efficient solar battery technology. From Japan, Napson and Tyco Electronics will be in attendance, while the arrival of Taiwanese firms such as Wonten Technology and Sunrise Global is generating a lot of interest too.
On the home front, corporate giants such as Samsung SDI, LG Electronics and Hyundai Heavy Industries will be joined by smaller firms such as Shinsung Holdings, Symphony Energy and D-Solar Tech. All in all, there will be 30% more South Korean participants compared to last year.
On the Expo’s sidelines, a three-day International Green Energy Conference, one of South Korea’s top international events, will host seminars on solar energy, wind power, hydrogen fuel energy, subterranean heat and bio-energy. Organizers expect up to 40,000 visitors, including 1,500 from overseas.
THE FUTURE’S GREEN
Now in its seventh year, the Green Energy Expo has grown by 40-50% each year since 2006. Photon International, a magazine specializing in renewable energy, ranked South Korea's Daegu 24th this year among 300 renewable energy fairs for the second straight year, consolidating its place in the top tier of international renewable energy expos.
With 200 companies from overseas, almost double from a year ago, Daegu will be a truly global stage for the latest green products and technologies. But EXCO, the host, is already looking ahead. Plans are underway to expand the exhibition center in 2011 and host the World Energy Council (the world’s most prestigious energy event). EXCO aims to make the Green Energy Expo the biggest such event in Asia.
“Displaying core energy-related technologies at an internationally recognized exhibition is in line with the South Korean government’s ‘green growth’ policy,” said an official of the Knowledge Economy Ministry.
Joung Hyoung-chan, head of SJ Inno Tech, which made the world’s first screen printer and SPI-related solar energy equipment, adds, “I listened to advice from the industry and concluded that the South Korea Daegu event will be the most appropriate place to evaluate our equipment that we have worked so hard to develop.”
WHERE WE ARE NOW
South Korea Daegu Green Enery Expo
Already shaping up to be one of the world’s biggest growth industries, renewable resources are at the heart of energy policies of governments worldwide. In everything from policy and technology to business projects and exports, countries are pushing hard to establish leadership and set the global standards.
This competition is also pushing many players toward greater cooperation. Late last year, Germany, with the help of Denmark, Spain and other European nations, founded the International Renewable Energy Agency, or IRENA. The US and Japan are among 143 nations that have signed the agency’s statute and 12 have ratified it. Requiring the ratification of 25 nations to take effect, a target the body is hoping to achieve by the end of this year, IRENA will promote technology transfers and recommend funding to maximize the use of energy.
As the leader in renewable energy supply and a founding country of IRENA, Germany is very well placed to succeed in the international markets. In 2007, Germany accounted for 47% of the global solar energy industry and 27% of the wind turbine market. Under the Obama administration, the US has made green energy a centerpiece of its push to revive the economy.
It is working on extending tax breaks, securing further finances for investments in renewable energy, and setting a mandatory target of 25% of all energy being renewable by 2025. In July 2009, American Council On Renewable Energy and Electric Power Research Institute, two non-profit organizations, drafted a list of technical areas and fields where energy, human resources and nature can best be harnessed to meet the international standards.
ENERGY COMPETITION HEATS UP
Amid increasingly fierce competition surrounding sustainable resources, there has been a great deal invested in environmentally friendly growth. According to a paper on global science technology policies for 2009 and 2010, published by the Ministry of Education in South Korea, many G-20 nations spent an average of 15% of their stimulus budget on green growth. South Korea ranked the highest by dedicating 80% of its budget, while the European Union spent 58.7%, China 34.3% and the US 11.5%.
Of the 28.9 trillion won (US$25.4 billion) in South Korea’s revised supplementary budget, 863.7 billion won, or about 3%, went into R&D for new growth engines and a science “New Deal.” In order to increase private R&D investment, the government also increased tax deductions on investments in new growth engines and original technology to the highest level among OECD member nations. The South Korean government finalized nine key projects for a Green New Deal, including the four-river restoration project and a green traffic network, which includes green cars and clean energy.
In their stimulus package unveiled in February last year, the US allocated $21.5 billion, or 2.7%, of its $787 billion stimulus budget to R&D and science and technology. This breaks down into $18 billion for R&D and $3.5 billion for facilities and capital equipment. A month earlier, the US had announced its own Green New Deal policy, whereby it would provide $150 billion over 10 years to develop clean energy, as well as green cars, homes and industry. More importantly, it pledged to double the R&D funding for federal clean energy from $6 billion to $12 billion.
Japan introduced its own measures to fend off the economic crisis last April. Of 14.7 trillion yen (US$163 billion) in the stimulus package, 1.34 trillion yen, or 9.2%, was slated for science and technology. And for its 2009 science and technology budget, Japan expanded its environment and energy sectors by 16%, raising their combined budget to US$164 billion from US$140.8 billion.
To revitalize its member countries’ economies, the EU spent 200 billion euros (US$270 billion), or 1.5% of the combined GDP, over 2009 and 2010, with 6% devoted to the development of clean technology. Germany allotted 1.4 billion euros (US$1.9 billion), or 2.8%, of its 50 billion euro stimulus budget into R&D. Another 900 million euros went into helping small and medium businesses, and 500 million euros were allotted to helping develop auto technologies for hybrid cars and other related fields. In China, the stimulus package ran to 4 trillion yuan (US$586 billion), of which 9.3%, or 370 billion yuan, went into R&D of IT(Information Technology), BT(Biology Technology), NT(Nano Technology) and energy.
These nations are ratcheting up their investments because they believe the low-carbon economic revolution centered on renewable energy will make or break their future.
“Experts believe that after Alvin Toffler’s ‘third wave,’ the information revolution, the fourth wave will be the ‘green revolution,’ with the renewable energy industry at its core,” said an official at the Samsung Economic Research Institute. “Just as IT took the late 1990s by storm, renewable energy will do the same in the years to come.” The upcoming Expo in South Korea's Daegu will certainly
be the place to go green.
