S. Korea to cut energy consumption 14% by 2030

SEOUL. KAZINFORM - South Korea plans to cut its total power consumption 14 percent by 2030 by improving the energy efficiency of local factories, buildings and cars, the industry ministry said Wednesday, Yonhap reports.

photo: QAZINFORM

Under the plans, the country aimsto save 10.8 trillion won (US$8.94 billion) on energy imports in 2030, whilereducing some 29.6 million tonne of oil equivalent (TOE) over the period,according to the Ministry of Trade, Industry and Energy.

TOE is a unit of energy thatmeasures the amount of energy that can be created through a ton of oil. Theamount of the energy saved from the policy is enough to power 22 millionhouseholds, or 40 million sedans a year, according to the ministry.

The process of adopting moreefficient energy systems can create some 690,000 new jobs through 2030, itadded.

«Reducing the consumption ofenergy by improving the efficiency is an effective way to cut the emission ofgreenhouse gases and fine dusts, as the process does not weigh down economicgrowth,» the ministry said.

In line with the efforts, thecountry plans to apply information and communications technology (ICT) basedenergy management systems at local factories, including steel and petrochemicalplants, which together account for roughly 62 percent of the country's powerconsumption.

Old apartments and commercialbuildings will be renovated with more energy-efficient materials and heatingsystems, with a pilot project set to kick off in 2020, it added.

Consumers purchasingenergy-efficient home appliances will also receive cash rebates of around 10percent of the price.

Starting in 2027, the production oflow-efficient fluorescent lamps will be banned, while the use of light-emittingdiodes will be promoted, the ministry added.

Other measures includestrengthening regulations of power efficiency for automobiles. Under the plan,the average fuel efficiency of local cars will reach 28.1 kmpl, up from 16.6kmpl posted in 2016, according to the ministry.