S. Korean firms vying to tap into solar energy business

[OKIsItJustMe]

http://english.yonhapnews.co.kr/business/2007/10/14/45/0502000000AEN20071011006500320F.HTML

(Yonhap Feature) S. Korean firms vying to tap into solar energy business

By Park Sang-soo
SEOUL, Oct. 14 (Yonhap) -- Soaring oil prices are definitely a big burden on companies in South Korea, the world's fourth-largest oil importer that relies entirely on imports for its oil needs.

With crude prices remaining sky-high, solar power -- a clean and abundant source of energy -- is now attracting attention from South Korean companies as they see it as a potential lucrative revenue source.

Local companies' interest in solar energy started to grow in 2004 in the wake of a surge in international oil prices. Recently, global warming and a series of natural disasters caused by climate change have prodded domestic firms to take a close look at the relatively untapped business.

"South Korean companies are looking at solar power-related business as their next revenue source," said Kang Yun-heum, an analyst at Daewoo Securities Co. "Local companies are the world's top players in the segment of semiconductors and liquefied crystal displays, which means they would be able to maintain technological advantages."

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[Ready4Change]

1. And thus we know where our future dollars will go.

When oil and coal and nuclear fissionables run out, the rest of the world may have fully mature solar production, and we'll have squat.

Damn shame.