South Korea to invest $3.4B on green IT

South Korea has disclosed it will spend about $4.2 trillion won ($3.4 billion) over the next five years to develop IT as an "eco-friendly" growth engine, according to an Agence France-Presse report.

The Presidential Committee on Green Growth shared that the amount will investment 10 key projects that include creating energy-saving versions of products like PCs, TVs, displays and servers, as well as developing energy-efficient IT service networks including high-speed Internet lines.

The investment will also push for construction of eco-friendly schools using digitized textbooks, electric screens to replace blackboard and chalk, and the application of IT technologies to reduce energy consumption in manufacturing.

The plan is part of the "Green New Deal" announced early this year, targeted at developing environmentally friendly industries to become South Korea's new economic driver, the report stated.