Since 2007, businesses in renewable energy industry has been increased 2.2 times from 100 to 215 and their employees 3.6 times from 3,691 to 13,380.

For the last three years, the sales grew 6.5 times from 1,253.7 billion won, private investment increased 5 times from 719 billion won to 3,558 billion won. Photovoltaic and wind power has captured 81% and 15% respectively in the last years investment. According to the Knowledge Economy Minister, "In 2010, photovoltaic and wind power industries explosively grew. Against the circumstances in 2007, its manufacturing businesses rose 3.2 times to 97, its employees 7.4 times to 8,579. Also, wind power industry increased 39% to 32 and its employees grew 86% to 2,654."

Ministry of Knowledge Economy is anticipated that employees of solar power industry will be increased to 11,807, 38% more than last year. Also its sales figure seems to be very optimistic, rising 76% to 1,042.31 billion won. Apart from components, it is expected that extension of wind power system and offshore wind power will contribute to increase 14% its employees to 3,016 and 137% to 2,771.1 in its sales.

MKE announced that it will invest 13.5 billion won by increasing 24.1% against the renewable energy industry last year. Especially, it will newly support 20b illion won for establishing Renewable energy Test-bed. Furthermore, the ministry will pour 9 billion won for extending renewable energy business abroad.

Source: Apec-vc