According to Kenny Kim, Executive Vice President, Displaybank (Solar&Energy division), Korea's Ministry of Knowledge Economy recently announced a 'PV Market Creation Plan', which could allow the Korean solar PV installment market to reach 200 MW by 2012.
According to Kim, the Korean government recently acknowledged its domestic solar PV market and industry's risks. Korea’s Renewable Portfolio Standard (RPS) was announced on July 2009 in order to expand the solar PV market and secure the domestic solar PV industry.
The plan contains details of six power generation subsidiaries of KEPCO (Korea Electric Power Corporation), that are planned to supply 101.3 MW of solar PV installments by investing KRW 338.2 billion during three year periods in order to enhance the Korean solar PV market.
According to Displaybank’s Kim, the government plans could result in an increase of over 30% in the Korean solar PV market from the pre-RPS Model Business.