Seoul will complete approximately 800,000 LED lighting projects in the public sector in 2014

A few days ago, South Korean media reported that Seoul, South Korea announced the investment in installing more LED lamps in public places and encouraged the private sector to further expand the scope of installation. In public places, including subway stations and streets, it is planned to use LED lighting in the city government office by 2018 in the hope of reducing energy consumption and assisting the LED lighting industry.

The Seoul government also said that the plan will be extended to the private sector by 2030. It is estimated that by 2014, about 800,000 LED lights will be installed in the public sector, and another 70,000 LED lights will be installed in the private sector. It is reported that this will save 1100 gigawatts and 120 billion won ($105 million) in electricity annually for Seoul.

The Seoul Metropolitan Government also plans to build a smart lighting grid with 1.32 million energy-saving street lights by 2014. To encourage private sector installations, the city will offer a loan program of up to 1 billion won ($870,000) at a 2.5% interest rate.

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