Jeju island will be an island example of smart tourism and energy self-sufficiency, said Korean President Park Geun-hye at the launch of the Jeju Creative Economy Innovation Center.
According to a report in the Korean Herald, the President said Jeju Innovation Center would be the "Korean version of Silicon Beach, providing a good environment for both resting and starting business in the fields of culture and software.”
"The Jeju Creative Economy Innovation Center aims to turn Jeju into a world-class island of smart tourism and energy self-efficiency by combining information and communication technology with Jeju's culture and tourism and commercializing electric cars and smart grid technology," Park said at the opening ceremony of the center.
"Jeju has tremendous potential in the cultural, software and energy fields, too."
Kepco to export smart grid tech
Kepco plans on exporting smart grid technologies developed by the company and will spend US$155 million between 2015 and 2017 on comprehensive tests of related technologies, according to the Korean Times.
Speaking at a conference in late 2014, Hwang Woo-hyun, KEPCO vice president told delegates: "Our goal is developing smart grids into a business model and an export item."
Hwang told attendees that KEPCO would be installing smart grid technologies from the Jeju Island smart grid test bed in mainland cities such as Seoul and Incheon. His vision is to make Korea smart when it comes to power generation, distribution and consumption.
"Smart grid technologies will be applied across the country by 2030," a KEPCO spokeswoman said. "We are trying to export the technologies to developing nations in Southeast Asia."
According to the Korean Times, it is believed that Korea can improve energy efficiency by 46.7% by 2030, with a decrease in greenhouse gas emissions of 30% by 2020.
"Considering these benefits, smart grid technologies will provide countries with problems in energy supply with a dramatic breakthrough," Kim Dae-kyeong, senior analyst at the Korea Institute of Energy Technology Evaluation and Planning told the news agency.
Picture credit: Yonhap News