South Korea CEOs interested in green investment: survey

SEOUL (Reuters) - Over 80 percent of 105 South Korean CEOs at major companies plan to invest in environmental technologies and see them as a major business in the long-term, a survey said on Monday, adding to hopes for a government green spending plan.

Thirty-seven percent of the CEOs surveyed said they would invest over one percent of their sales in environment-related businesses this year, while 42 percent said they would invest less than that.

Some 56 percent said they were interested in renewable energy and carbon reduction technologies, according to the survey conducted by the Maeil Business Newspaper.

However, 73 percent also said they were worried about bubbles in green industries, and asked the government to provide concrete targets and consistent policies.

“The biggest concern is whether the government’s green growth stance will be consistent in future administrations,” one CEO of an energy company said in the survey.

South Korea last week said it would invest 107 trillion won ($83.74 billion), or 2 percent of its annual GDP, in environment-related industries over the next five years.

Reporting by Cho Meeyoung; Editing by Jonathan Hopfner