As a country without abundant energy resources, it is only logical for Korea to go all out for renewable energy to support industrial growth, according to a U.S.-based solar battery company chief.
“While developing our capacity as a technical frontrunner in the solar energy market, we have also been keeping a close watch on Korea and the Asian market over the years,” Robert W. Campbell, president and CEO of SoloPower, told The Korea Herald.
SoloPower is a U.S.-based solar energy company that develops and manufactures patented flexible thin solar panels, called Copper Indium Gallium Selenide, or CIGS.
The firm, in cooperation with Korean convergence technology firm CTI Korea, is to open a solar panel manufacturing unit in Gwangju and start phase one production as early as next year, according to the CEO.
It also participated in a U.S.-Korea investment ceremony recently held in New York by Trade Minister Yoon Sang-jick during President Park Geun-hye’s visit to the United States.
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Robert W. Campbell, president and CEO of SoloPower, speaks in an interview with The Korea Herald in Seoul on Tuesday. (Lee Sang-sub/The Korea Herald) |
“Korea had a higher priority to us than other Asian states for a variety of reasons,” Campbell said.
“Not only has it been active in embracing green technology and renewable energy, it also has an ideal geographical location as a trading platform.”
The country’s strong relationship with the United States, too, was a decisive factor, he added.
“The KORUS Free Trade Agreement and its extensive contents proved the strength of the bilateral ties,” he said.
“We could feel assured, before stepping into the Korean market, that we will have legal protection on intellectual property, as well as a common way of doing business.”
The CEO shrugged off skepticism about the effectiveness of solar energy.
“The market is still young and skeptics yet prevail, but what we need is an education process to show them that solar energy is not only sustainable but also inevitable,” he said.
The key task is to acquire the most advanced technology and take an initiative in the market while no other countries have yet claimed dominance in the business, he also said.
“This is the vision that we shared with CTI Korea and the reason why we decided on the mutual business partnership,” said the U.S. firm chief.
CIGS, the signature product of SoloPower, is characterized by its super lightweight and flexible texture, as well as its energy effectiveness.
“The largest industrial market for our product is the roof tops on conventional centers, warehouses and factories,” the CEO said.
“This, however, is only the beginning as we see a bigger potential in the entire portable power market, involving cars and mobile phones.”
The size of the Asian market in the upcoming years is expected to amount to billions of dollars, he added.
“One of the hurdles to be overcome is Korea’s technological barriers, especially concerning the production classification and certification system,” Campbell said.
Korea tends to stick to traditional standards, not yet embracing the International Electrotechnical Commission code or the UL code, he explained.
“We expect Korea to catch up soon as it is important for us to have access to the Korean market as well, not just to Japan and other surrounding countries.”
By Bae Hyun-jung (
tellme@heraldcorp.com)
