South Korea to bump up biodiesel use
The government of South Korea has announced plans to increase the biodiesel blend ratio from its current level of 1% to 3% by 2012.
In an effort to meet these targets, the government has extended industry tax breaks and has taken steps to increase local feedstock production to minimise import dependency, according to a report by the US Department of Agriculture (USDA) Foreign Agricultural Service (FAS).
The government intends to increase renewable fuels from the current level of 2% of total energy consumption to 4% by 2012, and 12% by 2030, as a response to the doubling of annual carbon dioxide emissions from increased car ownership.
As part of a plan developed by the Ministry of Knowledge and Economy (MKE), the current biodiesel blend ratio of 1% will be increased 0.5% a year until it reaches 3% in 2012. The long-term objective is to eventually raise the blend ratio to 5%.
In an effort to meet these targets, the government has extended industry tax breaks and has taken steps to increase local feedstock production to minimise import dependency, according to a report by the US Department of Agriculture (USDA) Foreign Agricultural Service (FAS).
The government intends to increase renewable fuels from the current level of 2% of total energy consumption to 4% by 2012, and 12% by 2030, as a response to the doubling of annual carbon dioxide emissions from increased car ownership.
As part of a plan developed by the Ministry of Knowledge and Economy (MKE), the current biodiesel blend ratio of 1% will be increased 0.5% a year until it reaches 3% in 2012. The long-term objective is to eventually raise the blend ratio to 5%.
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