Korea's Evolving Solar Photovoltaic Policies and Their Impact on the Country's Market and Industry

Abstract

Korea restructured its industry following the 1998 Asian financial crisis and its ICT industry has developed strongly since that time. The Korean government regards the current economic downturn as an opportunity to adjust its economy from an export- and technology-driven economy to green-driven economy. The government envisages the solar photovoltaic industry as its next strategic industry, following the semiconductor and display industries. Despite of its efforts in 2008 to expand its support for the solar photovoltaic industry, the Korean government has begun running out of funds in 2009. This report analyzes Korean government policies for the solar photovoltaic market and examines future trends in solar photovoltaic market demand.