Business · Energy & Commodities · 2 hrs ago
South Korean Small Businesses to Get Energy-Saving Equipment Support
A South Korean foundation has partnered with five local governments to help small businesses save energy.
The program is aimed at small businesses facing high prices and rising energy costs.
It will use 600 million won from a KB Financial Group fund for energy-saving upgrades.
The participating areas are Jeju, Seoul’s Gwanak District, Daegu’s Buk District, Ulju County in Ulsan and Dong District in the special city of Jeonnam-Gwangju.
Support can include efficient lighting, heating and cooling equipment, electrical repairs and on-site energy checks.
The upgrades are intended to lower electricity bills and emissions, with local governments providing administrative help and specialist agencies managing installation and checks.
A final review of energy and emissions savings is due in December.
The Korea Foundation for Cooperation of Large and Small Businesses, Rural Affairs and Fisheries signed an agreement with five local governments to support energy-saving equipment for small businesses.
The programme will use 600 million won from a KB Financial Group cooperation fund to help businesses switch to efficient, environmentally friendly equipment.
The participating governments are Jeju, Seoul’s Gwanak District, Daegu’s Buk District, Ulju County in Ulsan and Dong District in the Jeonnam-Gwangju Integrated Special City.
Support will include equipment upgrades and on-site energy assessments tailored to local needs.
A final report on reductions in electricity use and carbon emissions is due in December.
- Who
- The Korea Foundation for Cooperation of Large and Small Businesses, Rural Affairs and Fisheries and five local governments are running the programme for small businesses.
- What
- The programme will support energy-saving equipment upgrades and on-site assessments.
- When
- The agreement was announced on October 27, 2026. A final results report is due in December.
- Where
- Jeju, Gwanak District in Seoul, Buk District in Daegu, Ulju County in Ulsan and Dong District in the Jeonnam-Gwangju Integrated Special City.
- Why
- To ease the burden on small businesses facing high prices and rising energy costs, and support greener business operations.
This story does not have two clearly opposing sides.
KB Financial Group, the Ministry of SMEs and Startups, and the foundation established a 10 billion won cooperation fund.
The foundation announced an agreement with five local governments for the energy-saving equipment support programme.
A final report on reductions in electricity use and carbon emissions is due.
- Total programme funding
- 600 million won
- Jeju allocation
- 155 million won
- Gwanak District allocation
- 145 million won
- Buk District, Ulju County and Dong District allocations
- 100 million won each
- Final results report
- Due in December
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What people are saying
Support for high-efficiency, environmentally friendly equipment will be a practical solution to easing electricity bill burdens.
We will actively support local commercial districts in achieving sustainable green growth based on close cooperation with local governments.