Back To Top

Obama calls for more investment in clean energy to catch up with South Korea

WASHINGTON -- U.S. President Barack Obama Friday urged his nation to invest more in the development of clean energy technology in order not to lag behind South Korea and other countries.

"We're in a competition all around the world, and other countries -- Germany, China, South Korea -- they know that clean energy technology is what is going to help spur job creation and economic growth for years to come," Obama told workers at an Allison Transmission Plant in Indianapolis, Indiana, according to a transcript released by the White House. 

"And that's why we've got to make sure that we win that competition."

The South Korean government has announced plans to invest 4.5 trillion won ($4 billion) this year in the development of clean energy technology, such as solar and wind power, up 23 percent from a year earlier.

South Korean companies plan to nearly double exports of clean energy products to $9 billion this year, with shipments of $6.7 billion of solar energy-related equipment and systems and $2.1 billion of wind power generation products. (Yonhap News)