April 20, 2024

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[THE INVESTOR] Key business indices for renewable energy, including investment and domestic demand, have backtracked over the past few years, data showed on Nov. 20.

The data provided in a 2016 survey by the New Renewable Energy Center of the Korea Energy Management Corp. showed that six of the seven indices fell last year from the previous year.

Investment in renewable energy, for instance, fell 13.6 percent to 688 billion won (US$625.73 million). Local demand dropped 17.3 percent to 4.11 trillion won, and the number of companies 14.4 percent to 405. Exports also shrank, down 13 percent to 3.54 trillion won, while the number of people employed in the industry decreased 10.9 percent to 14,412.

Sales fellt 10.8 percent to 10.09 trillion won, according to the data.

The fall in investment was more alarming, dropping for the second consecutive year after an 8.5 percent decrease in 2015.

Overseas production was the only index among seven to gain, up 7.6 percent to 2.428 trillion won.

By Alex Lee and newswires (alexlee@heraldcorp.com)