Korea’s exports of eco-friendly products and technologies have increased fivefold over the past three years, data showed Monday.
According to data from the state-run Korea Environmental Industry & Technology Institute, exports by the local environmental industry totaled 322 billion won ($283 million) in 2011.
It represents a 522 percent increase from 2008, when the export amount stood at 51.8 billion won, the institute said.
In one of the major overseas green deals clenched by local firms, Halla Energy & Environment Co. signed an $85 million deal in March 2011 to expand a sewage treatment plant in Saudi Arabia.
A smaller Coenbio Co. received orders worth 8.3 billion won from the northern Chinese province of Heilongjiang to treat contaminated soil with microbial products.
Green products are gaining ground in domestic markets, too, the KEITI said.
More than 8,100 products have won “Korea Eco-Label” certification so far. The public sector’s procurement of green products rose to 1.6 trillion won last year, from 1.3 trillion won in 2007, the state body said.
The Korean government has taken various measures since last year as part of a 10-year plan to foster eco-friendly industries into a new growth driver. It plans to spend 1.55 trillion won over the next decade to promote and support research and development in the field and commercialization of green technologies.
By Lee Sun-young (
milaya@heraldcorp.com)
