All municipal government office of Seoul plans to use LED lighting in 2018

Recently, the South Korean capital -- Seoul has announced the plan to install more LED lighting in public places, and encourage private sector to further expand the scope of installation. All municipal government offices of public places, including subway stations and streets, plan to use LED lighting in 2018. This plan expects to reduce energy consumption and aid the LED lighting industry.

Seoul government also said the plan will expand to the private sector in 2030. It is estimated that in 2014 nearly 800,000 LED lights will install in the public sector, and another 70,000 will install in the private sector. According to Seoul City, this plan will save 11 gigawatts of electricity each year or 120 billion won ($ 105 million). The city government also plans to build intelligent lighting grid which contains 1.32 million energy-saving street lamps in 2014. In order to encourage the installation of the private sector, the city will provide an loan scheme which is up to 1 billion won (about $ 870,000) interest rate of 2.5 percent.