Green energy complex to cost $7 billion
SAEMANGEUM, SOUTH KOREA - South Korea's Samsung Group said that it would invest 7.6 trillion won US $7.01 billion from 2021 to build a green energy industrial park in the country producing wind power generators, solar batteries and energy storage systems.
The complex will be built in the west coast area of Saemangeum, where South Korea is operating a reclamation project, Samsung Group said in a statement.
South Korea's No.1 business conglomerate with nearly 70 affiliates is expanding into new businesses such as solar cells in search for future growth engines.
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Recent data indicate that Germany's economy is facing substantial challenges, including high inflation and reduced industrial output. As companies struggle to maintain profitability amid rising costs, many have begun to cut back on energy consumption. This retrenchment is particularly pronounced in energy-intensive…
