South Korea to pass Smart Grid legislation

The world’s first government legislation for the implementation of a Smart Grid will come into force this week in South Korea.

President Lee Myung Bak has set out a legal framework for power distributors and electric car recharging points that are linked to a smart network.

The government has estimated that it will spend about $24bn on building Smart Grids by 2030, which it in turn hopes will cut the country’s carbon emissions by 30 per cent.

Last week it was revealed that South Korea is one of four Asian countries seen as having huge Smart Grid investment potential by the UK.

A government report called Smart Cities of the Future in Asia: The Opportunities for UK Business, also singled out Indonesia, Malaysia and Singapore as countries where UK technology companies were poised to do business.

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