DAEGU < invest Korea

Daegu was selected as a recipient for the Korean government’s smart grid supply support project, which aims to create a new growth engine and help Korea overcome electricity shortage.

The smart grid refers to a system that maximizes energy efficiency by applying information technology to power grids.

The Korean government established a smart grid roadmap in 2010. To foster the smart grid industry as Korea’s new growth engine, it plans to establish smart grids in units of city in 2016, metropolitan city in 2021 and country in 2030.

The government received applications last June from developers and households which wish to take part in the project, to establish basic facilities.

Hyundai Autoever Corp. which applied for the project to focus on Dalsung area was selected from Daegu.

Smart grid system, which includes advanced metering infrastructure and energy storage system, will be built by the end of the year.

Daegu city has held active exchanges with related agencies, groups and companies to build a future city with smart grids.

The city also endeavored to attract smart grid projects in association with the 22nd World Energy Congress and the 7th World Water Forum which will be held in Daegu in 2013 and 2015, respectively.

With the smart grid supply support project, Daegu plans to attract the smart grid expansion project, which the Korean government will promote from 2015, to become a smart grid hub.

Vice Mayor for Economic Affairs of Daegu Kim Yeon-chang noted that the city will focus on building a green city to improve quality of living for Daegu citizens.

Source: Yonhap News (Aug 6, 2013)

** This article was translated from the Korean.