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South Korea Announces $8.2 Billion Offshore Wind Farm
South Korea is currently Asia’s fourth largest economy, but it imports 97 percent of its energy from overseas. As such, it has made major investments in diversifying its energy sources and cutting its economy’s dependency on fossil fuels. Last month, Seoul announced an ambitious five-year plan to spend $36 billion developing renewable energy as its next economic growth engine. It hopes that it will become one of the world’s five top players in the sector, although it will have to go a long way to beat China.
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