According to South Korea New Energy & Renewable Energy Association, total sales Revenue of South Korea’s solar industry exceeded 5000 billion won in 2010 (1 U.S. dollar = 1155 won).
Sales revenue related to solar industry reached 5370 billion won in 2010, 80 times more than 667 million won in 2005 and 2.3 times more than 2380 billion won last year.
Export related to solar industry in South Korea increased 19.5 times to 3.38 billion U.S. dollars compared to 2007. The renewable energy industry as a whole totaled 8700 billion won of which solar industry was 67%.
The solar industry in South Korea is expected to further expand at a rate of 15.4% in 2011, reaching 6200 billion won mainly because solar energy has become the most important alternative energy for fossil fuel.