“RE100,” which stands for Renewable Energy 100%, is a global initiative that calls for the transition to 100% “green electricity.” With Apple urging its partners as well as its offices across the world to shift to clean energy, South Korean companies are expected to face growing pressure.
As of Thursday, LG Chem was the only South Korean company that officially joined RE100. Samsung Electronics and SK Hynix are also participating in a government pilot project for renewable energy certificates designed to support South Korean businesses with RE100.
Although South Korean companies are contemplating participating in RE100, they are hesitant to publicize it because there are limits to the local electricity supply system. While it is common for renewable energy suppliers and consumers (companies) to trade directly in advanced nations such as the United States, Korea Electric Power Corporation (KEPCO) is the sole energy supplier in South Korea in accordance with the Electric Utility Law, which means businesses cannot choose to use renewable energy only.
Some companies are incorporating business infrastructure into new renewable plants in preparation for RE100. SK E&S, which was selected as a preferred provider of the Saemangeum floating solar power project and became the largest private floating solar power company, is building a data center and a start-up cluster together with the power plant. Its aim is to power all the facilities with electricity generated in Saemangeum.
Do-Young Kwak email@example.com