South Korea Invests 33.6bn Won in Perovskite Solar Tech

PVTIME – South Korea has announced a funding package of 33.6 billion won (22.8 million US dollars) under the Third Promotion Plan for Super Innovative Economy Strategic Projects. This investment will support the domestic PV industry’s efforts to commercialise perovskite-silicon tandem solar cell technology, reducing reliance on China’s traditional silicon PV dominance and reshaping the global market.

The Super Innovative Economy Strategic Projects are a decade-long national strategy that will transform South Korea’s energy sector. Focusing on climate and energy, it covers six core areas: small modular reactors (SMRs), green hydrogen, next-generation solar power, offshore wind, next-generation power grids, and high-voltage direct current (HVDC) systems.

South Korea’s Minister of Economy and Finance Koo outlined plans to reshape the solar cell industry ecosystem, secure core ultra-high-efficiency tandem cell technologies, and establish domestic and international standards in order to capture early market share. The goal is to achieve global commercialisation leadership within five years, with target efficiencies of 35% for tandem cells and 28% for modules.

A detailed action plan for the early commercialisation of tandem cells has been finalised through cross-ministry collaboration, including with the Ministries of Climate, Environment, Industry, and Finance. The plan includes the development of core materials by 2026, the commercial launch of the world’s first tandem modules by 2028, and the achievement of a 35% cell efficiency target by 2030. The PV R&D Task Force, established in September, unites industry, academic, research and government experts to build the tandem cell supply chain.

The government will also train talent at master’s and doctoral level, develop domestic standards, explore early perovskite PV markets, and drive regulatory reforms, including potential new provisions in the Renewable Energy Act and carbon emission factor adjustments, to boost the competitiveness of domestic products.

Both Japan and South Korea have identified perovskite technology as the core of next-generation PV, seeking to diversify away from China’s dominance of silicon. Japan is taking a gradual, diversified approach, developing flexible perovskite and tandem technologies with substantial subsidies, and targeting 20GW of installed capacity by 2040. South Korea, meanwhile, is focusing on tandem technology, aiming for commercialisation by 2028 and 2030. The country is providing systematic policy support and setting goals to build production capacity, increase export competitiveness, and reshape the global PV landscape.