By Kim Yoo-chul
Staff Reporter
LG Chem is seeking to take 30 percent of the local building integrated photovoltaic (BIPV) market within two years propelled by a steady winning of such solar installations.
BIPV is a solar roofing system, which has been extensively gaining popularity in buildings that integrate renewable energy solutions.
According to industry estimates, the local BIPV market will reach 150 billion won by 2010 as demand for lightweight, cost-effective and environmentally-friendly solar products for electric power applications will rise capitalizing on the residential, commercial, industrial and even public utility sectors.
``We will inject cash into sharpening such solar-related technologies as we believe the roofing systems will make a breakthrough for construction parts suppliers in the struggling local construction sector,’’ an LG Chem spokesperson said Tuesday.
The revised sales target comes after the company’s recent win of a combined 8.5 billion won contract to provide the BIPV systems to two buildings in the constructing logistics complex in Songpa, southeastern Seoul.
LG Chem said its BIPV commercial products in the complex will reduce carbon dioxide emissions by 100 tons a year.