South Korea’s renewable energy industry is expected to lag behind global peers in 2013, industry data showed Wednesday, mainly due to the lack of government support.
The combined sales of local renewable energy firms came to 7.4 trillion won (US$6.9 billion) last year, down 7.86 per cent from 8.1 trillion won tallied two years earlier, according to the data compiled by the state-run Export-Import Bank of Korea (Eximbank).
In contrast, the size of the global renewable energy market jumped 38 per cent to reach $260.8 billion over the cited period. The number is anticipated to reach $271.3 billion this year, the data added.
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