South Korea Doubles Renewable Energy Funding in New Budget.

Facing increased pressure to meet climate goals, the Ministry of Climate, Energy and Environment has significantly overhauled its 2026 budget, nearly doubling financial support for renewable energy projects compared to previous years. A record 648 billion KRW has been allocated specifically for RE100 industrial parks facilities designed to be powered entirely by wind, solar, and other renewable sources. In a shift from previous trends of tapering subsidies, the government has frozen EV and hydrogen-vehicle incentives at current levels for 2026 to ensure market stability and encourage drivers to scrap older fossil-fuel vehicles. The budget includes funding for high-voltage direct current (HVDC) technology to build a massive energy grid connecting offshore wind farms on the west coast to the high-demand industrial centers in the north.

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