South Korea said it is expects to witness a 5.5trn won ($4.7m) investment in renewable energy in 2010, a 59% rise over 2009 figures.

Money is needed for facility expansion and research and development for solar, wind power and fuel cells, according to Reuters.

Private companies are expected to invest ₩3.9trn ($3.3bn) of this amount, the government will invest ₩0.9trn ($0.7bn) and the rest will come from public institutions.

South Korea said it aims to generate 11% of its energy needs from renewable sources by 2030.