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  • Seoul City to Support the Improvement of Building Energy Efficiency with 22.5 Billion Won

  • Integrated News SMG 2516

    A Seoul City representative has stated that the city administration will reduce the financial burden on citizens in preparation for the winter season, and maintain a lower national loan interest rate than the government’s current loan rates to enable businesses to participate in the project to improve building energy efficiency. The fund amount ranges from 1 billion won to 2 billion won for each case, totaling 22.5 billion won. The city administration has announced a scheme to “invigorate loan support for the building energy efficiency project,” with the aim of improving the support conditions of the building retrofit project marginally in order to reduce the demand for energy.

    BRP(Building Retrofit Project): a project that is designed to enhance the use efficiency of energy and saves energy through the improvement of the system in order to reduce buildings’ energy loss and modify the factors of inefficiency.

    This invigoration plan, based on an analysis of the BRP, lowered the standards for candidates and expanded the number of participants after considering the suggestions from property owners, the ESCO Association, architects, energy management corporations, etc. The city administration is expecting that the new loan support invigoration plan will make it easier for apartment houses, sales facilities, buildings owned by religious organizations, and energy-consuming colleges and hospitals which had difficulty participating in the BRP to manage their participation in the project to improve energy efficiency more effectively.

    Success Cases of the Building Retrofit Project