314 Childcare Centers, Houses, and Other Sites Approved for Loans, 173 Sites Completed Conversion to Low-Carbon Buildings
100% Interest-Free Loan Support for Facility Improvements Including Insulated Windows and High-Efficiency Lighting Replacement
[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 31st that it has decided on the recipients for 10 billion KRW out of the 10.9 billion KRW loan fund for this year's Building Energy Efficiency Improvement (BRP) support project. The project budget was initially 3.5 billion KRW at the beginning of the year but was expanded to 10.9 billion KRW due to increased demand.
The Seoul Building Energy Efficiency Improvement project provides interest-free loans covering 100% of construction costs to reduce energy consumption through measures such as replacing insulation windows and materials, and installing LED lighting in old houses or buildings that have been approved for use for more than 10 years. The city has been conducting this project since 2008.
So far, Seoul has decided to support loans totaling about 10 billion KRW for energy efficiency improvements in 314 old buildings. Among these, 173 locations including daycare centers and hospitals have completed conversion to low-carbon buildings, expected to save 77.56 TOE annually. Satisfaction is also high. According to a recent survey conducted by Seoul on 94 participants in the loan support project over the past three years, 95% of respondents expressed satisfaction with the project, with an average satisfaction score of 9.2 out of 10.
In response to the increased demand for the building energy efficiency project this year, Seoul has increased next year’s budget to 12 billion KRW and plans to expand the project further by accepting applications starting in January. Additionally, the city will improve procedures by adding an on-site inspection phase to verify the appropriateness of construction and completion after the work is done, allowing citizens to participate with greater confidence.
Yoo Yeon-sik, Head of the Seoul Climate and Environment Headquarters, stated, “Amid the serious power shortage forecast due to the energy crisis, improving building energy efficiency through insulation windows and high-efficiency lighting installation can save heating and electricity costs and contribute to greenhouse gas reduction.” He added, “We ask for the active interest and participation of Seoul citizens again next year.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
