S. KOREA’S RENEWABLE ENERGY USE

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Voices calling for increasing the use of renewable energy to protect the environment are gaining strength. But the Korean government said it would cut the nation's renewable energy use goal from the previous target by 2030. U.S. business groups that have invested in Korea and the operator of the largest European pension fund are calling on the Korean government to expand the use of renewable energy.

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The American Chamber of Commerce, an association of U.S. businesses that have invested in Korea, sent this letter to Seoul's government last month. It requests the ratio of renewable energy to be increased to at least 30-35 percent by 2030. AMCHAM says sustainable and consistent renewable energy policies are crucial for attracting investment to Korea. The letter adds that American firms like Apple are increasingly demanding that their partners in Korea use renewable energy. The letter conveys AMCHAM's stance on the Korean government's move to curb the percentage of renewable energy, including solar and wind power. About ten days after the letter was sent, the government announced plans to cut the use of renewable energy. The government wants to curtail it to 21.5 percent by 2030, far lower than the 30.2-percent target announced last year. The government claims the decision is based on the results of feasibility studies. After the announcement, the operator of the largest pension fund in Europe responded. It expressed concerns about how the demand of long-term investors in Korea for which renewable energy procurement is essential would be met.

[Soundbite] Kim Yong-min(Trade, Industry, Energy, SMEs and Startups Committee) : "Foreign firms investing in Korea are required to increase the use of new renewable energy in line with the RE100 initiative. But because Korea is slashing its goal, they might cut investments."

Earlier, Samsung Electronics said the percentage of renewable energy use in Korea is just a fourth of the OECD average, and that efforts are needed to expand its supply. Other conglomerates like SK and LG also expressed their stances at recent debates that the use of renewable energy should be expanded.