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Samsung to Invest $7 Billion in South Korean Eco-Town

Posted By Lori Zimmer On April 28, 2011 @ 1:40 pm In global development,Renewable Energy,Solar Power | No Comments

Samsung, South Korea, green design, eco design, sustainable design, Saemangeum, green city, wind power, solar battery system, eco development, reclaimed wetland, OCI, [1]

Electronics company Samsung [2] has made a $7.04 billion commitment to the government to construct a massive eco-friendly production facility in South Korea [3]. The reclaimed wetland area of Saemangeum has been awarded to Samsung by the South Korean Government for the development of the facility. The green town will boast a wind-power generator, solar battery house, research headquarters and 20,000 employee homes.


Samsung, South Korea, green design, eco design, sustainable design, Saemangeum, green city, wind power, solar battery system, eco development, reclaimed wetland, OCI, [4]

Last year, Samsung [5] announced that it would invest 23 trillion Korean Won (just over $21 million USD) over the course of the next 10 years toward social programs like healthcare as well as green energy. The new eco-production facility is just a fraction of the plan.

TheĀ  South Korean Government has big plans for the Saemangeum wetland area, hoping to turn it into a self sustaining green destination [6]. The green town will feature eco-friendly industrial complexes, tourism and agricultural facilities. Samsung will also help outfit it with science and research facilities.

The wetland area was reclaimed back in 2006, with the building of a sea dike to dry the area out. Aside from Samsung, the area has attracted another industry leader, OCI, which produces polysilicon for solar panel cell usage. OCI has pledged a 10 trillion won (just over $9 million) investment over the course of the next 9 years.

The government supported 125 mile wetland area should be transformed into the proposed green town by 2021.

Images Wikimedia Commons

 


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URL to article: http://inhabitat.com/samsung-to-invest-7-billion-in-south-korean-eco-town/

URLs in this post:

[1] Image: http://inhabitat.com/samsung-to-invest-7-billion-in-south-korean-eco-town/saemangeum-aerial-view/

[2] Samsung: http://inhabitat.com/samsung-unveils-new-ecofriendly-replenish-and-restore-smart-phones/

[3] Korea: http://inhabitat.com/un-studios-korean-mall-kinetic-translucent-skin/

[4] Image: http://inhabitat.com/samsung-to-invest-7-billion-in-south-korean-eco-town/saemangeum_seawall/

[5] Samsung: http://www.samsung.com/us/

[6] green destination: http://inhabitat.com/microsoft-jumps-on-board-portugals-mega-smart-city-plan/

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