Vitalizing the “Green Remodeling” Market Necessary by Korea Economic Daily 2012-10-19
The American Chamber of Commerce in Korea hosted the Green Building Forum on the 18th at the Renaissance Hotel in Yeoksam. Thomas Hubbard, former Ambassador to Korea (front left) asks a question to the speaker.
“Even though people recognize the importance of eco-friendliness when constructing new buildings, people often overlook energy efficiency when remodeling old buildings. More government-led ‘green re-modeling policies’ are needed.”
The third annual Green Building Forum was held on Thursday, October 18, at Renaissance Seoul Hotel, aimed at examining the current foreign and domestic construction market and seeking a direction of sustainable development. The forum was hosted by the American Chamber of Commerce in Korea (AMCHAM Korea) and supported by the Korea Economic Daily. Around 120 people attended the event, including AMCHAM President Amy Jackson; Seung-eon Lee, Vice President of Korea Institute of Construction Technology (KICT); Chungha Cha, CEO of Susterra Partners; and other experts and CEOs in their respective fields.
Kunho Lee, Research Fellow at Korea Institute of Construction Technology (KICT), said in his presentation, “if it becomes obligatory to use eco-friendly energy and building materials in remodeling old buildings, we can reduce energy use by more than 20%, more than 20% of energy use can be reduced. Having a first mover advantage in these related technologies will pave new opportunities to enter domestic and foreign market including the U.S. and Japan.”
He also mentioned that “if we set to improve the houses of more than 15 years old, surveyed in 2009 totaling 6.8 million, adopting ‘Green Remodeling’, related domestic market size reaches KRW 68.8 trillion.” Also, he suggested “the government should provide incentives for those who adopt ‘Green Remodeling’ and raise private fund in order to invigorate the market.”
During the forum, market prospects regarding eco-friendly housing technologies including Passive House (energy-saving house) was presented. Jungman Choi, CEO of Passive House Institute Korea, said “domestic passive construction market is growing rapidly, the growth rate doubling Germany and those of other advanced countries’. However, incentives provided by the government are heavily focused on equipment sector including machinery and electricity. Therefore, this needs to be improved and incentives should also be provided for construction sector.” Jongil Kim, CEO of MA Architects Engineers presented on the successful cases of domestic “Green Homes.” And, Mr. Chungha Cha, CEO of Susterra Partners presented 2 Zero Net Energy Homes that they were building at affordable costs.