S. Korea expects to create 59 tln won in economic effect via zero carbon energy sources by 2033

SEOUL, Nov. 22 (Yonhap) — South Korea expects to achieve an economic effect worth 59 trillion won (US$42 billion) by beefing up the country’s “zero carbon energy ecosystem” by 2033, the industry ministry said Friday.

The Ministry of Trade, Industry and Energy has announced the 5th Energy Technology Plan, which presented its energy technology vision and R&D investment strategy for the next 10 years through 2033.

Under the plan, the government will focus on increasing the use of nuclear power, hydrogen and renewable energy sources, such as solar power and wind power, to help achieve net zero carbon emissions in the long term, the ministry said in a statement.

The ministry also said securing technological competitiveness will be essential to expanding the use of zero carbon energy sources.

The ministry projected the country’s energy self-sufficiency rate will rise to 90 percent during the 10-year period from the current 80.6 percent.