WoongJIn Energy

Company Description

Since 2000, the importance of renewable energy sWoongJIn Energyces has been highlighted while policies on the penetration of such energy sources have been strengthened along with technological development. As demonstrated in the nationwide goal of increasing the portion of renewable energy in total energy supply to 5% by the year 2011, Korea is also determined to provide full support for the development, penetration and industrial use of renewable energy.  
Changes in the internal and external environment such as recent volatility in the oil price and regulatory response to the Convention on Climate Change are shedding new light on the significance of renewable energy. Although initial investment for renewable energy is costly, it is still considered a breakthrough in terms of fossil energy exhaustion and environment issues. This explains why developed countries around the world are actively investing in R&D and penetration policies in this area.  
The issue of new energy sources is a shared concern for the entire world. Woongjin Energy joined hands with SunPower of the US, a producer of solar cells and modules of the world?s best efficiency. SunPower, a Nasdaq-listed company, owns a high-efficiency ingot and module manufacturing technology across the globe. This suggests that Woongjin Energy chose a path of mutual prosperity for a leap forward as well as a path of collaboration for bigger synergy down the road.  
If the renewable energy source industry can bring price competitiveness against existing energy sources, Woongjin Energy believes, the industry can become Korea?s next engine of growth along with the IT, BT and NT industry. Woongjin Energy will play a pivotal role in technological development and wider use of renewable energy sources. The company will also spare no effort in R&D and international cooperation in this field.