| Mobile Web

Search results for RE100

Games & Commerce

Naver to buy 30 percent stake in GS Wind Power, signs 25-year direct PPA

Naver said on Tuesday it will acquire a 30 percent stake in GS Wind Power and sign a direct renewable power purchase agreement. The deal is the first case in South Korea in which a RE100 member invests directly in a renewable power generation company to secure energy. The wind farm under construction in Yeongyang, North Gyeongsang Province is to supply electricity to Naver’s Sejong and Chuncheon data centres from commercial operations starting in the first half of 2028.

Finance

Woori Financial to raise 500 billion won regional infrastructure fund, invest in Haenam solar and Gochang offshore wind

Woori Financial Group said on Monday it will set up a 500 billion won regional development infrastructure fund to expand investment in renewable energy and national strategic infrastructure. It plans to invest more than 70 percent of the fund’s assets in infrastructure for balanced regional growth and link the fund with the National Growth Fund. Key targets include the Haenam 400 MW solar project and the Gochang 76.2 MW offshore wind project.

Industry

Government raises cap on local investment promotion subsidy to 30 billion won

South Korea has raised the subsidy cap for companies investing in less-developed balanced development areas and industrial crisis response zones to 30 billion won per case and per company, the Industry Ministry said. The local investment promotion subsidy supports 4 to 50 percent of investment costs with local governments. The revision adds a 2 percentage point boost to equipment-subsidy rates for certain AI-related investment and expands eligible worker-environment facilities. It also relaxes investment-period and resubmission limits.