It’s odd. South Korea is one of the most technically savvy nations on the planet with high one of the highest speed broadband and most advanced mobile networks. So it’s rather odd that it has only now got its first firm to launch full-scale solar power operations.
The facility is being launched by LG and has received 110 billion won (£54m) in investment. The electronics giant has teamed up with the local government using 300,000 square meters of land to produce a 14-megawatt capacity – enough to power 8,000 households around the region.
Annual sales from the facility are expected to reach 13 billion won (£6.5m).
According to the Tehran Times (one of the few English language papers that has run it):
“We’ve engaged in talks with some foreign companies to construct a solar cell plant on a turnkey basis,” Dennis Ahn, CEO of LG Solar Energy, said in a press briefing.
“It is expected to reap an additional $285,000 this year as the plant could make the company consume 12,000 tons less of carbohydrates on a yearly basis,” he said, emphasizing the rising demand for solar energy.