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Samsung Invests $7.4 billion in Eco-Friendly Town


South Korea, through its most important group Samsung, is taking the business of “eco-friendliness” to a whole new level: it doesn’t mess around with things like electric cars or small wind turbines. Samsung thinks big: a green energy complex at Saemangeum wetland area south of Seoul!

The complex is set to include a wind-power generator, a production base for solar batteries and a research institute; not to mention that it will provide each worker out of the 20,000 with a roof over his head.

Samsung’s initiative is actually only a piece in the puzzle: what the government plans to do is transform the whole area into an eco-friendly town with facilities of all sorts – industrial and agricultural, but also sites destined for tourism, scientific and research purposes.

These constructions will benefit from a 7.6 trillion won ($7.4 billion) investment, a deal which Samsung agreed upon with the government this week. The administration of the site will fall into the hands of the government, but it is a good chance for Samsung to show that they weren’t just fooling around when they announced they would spend 23 trillion won in healthcare and green energy in the next decade.

The massive project is not expected to begin construction until another 10 years, but by the looks of it, it will be worth waiting!

[via Physorg]

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