21 Korean RE100 Companies Rank 4th Globally... "Tax Support Under Review"

[Asia Economy Sejong=Reporter Dongwoo Lee] On the 27th, the Ministry of Trade, Industry and Energy held a meeting with domestic 'RE100' participating companies at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, to discuss policy directions.

RE100 is a campaign aiming to convert 100% of electricity consumption to renewable energy by 2025. The number of RE100 member companies worldwide has increased from 13 in 2014 to 376 recently.

Domestically, the number has increased from 6 in 2020 to 21 recently, ranking fourth after the United States (96), Japan (72), and the United Kingdom (48).

Including RE100 member companies, the amount of renewable energy used by domestic companies also increased significantly from 1.4 TWh (terawatt-hours) last year to 4.7 TWh this year.

The Ministry of Trade, Industry and Energy explained that it would actively consider incentives such as tax support to alleviate the burden of renewable energy generation costs for companies attending the meeting who requested such measures for RE100 implementation.

In addition, specific plans for renewable energy procurement and certification standards will be discussed through conferences involving major companies and experts within this year.

Jang Young-jin, the first vice minister of the Ministry of Trade, Industry and Energy, said, "Since RE100 may act as an international investment barrier in the long term, we will actively communicate with companies to ensure smooth implementation of RE100 by our companies and prepare concrete policy directions in the future."

This content was produced with the assistance of AI translation services.