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Samsung Electronics to join renewables pledge as South Korea shifts gears on green energy

Samsung, the world's biggest chipmaker, is late to the green power pledge: It's been two years since hometown rival SK Hynix joined the RE100 initiative, which sets a 2050 target for 100% renewable electricity, while global peers including Apple, TSMC and Intel are already among its 350 members.

April 27, 2022 / 06:00 AM IST
Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent.

Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent.

Samsung Electronics plans to join as soon as next month a group of global corporations committed to 100% renewable energy, a person familiar with the matter said, as partners such as Apple Inc push it for action against climate change.

Samsung, the world's biggest chipmaker, is late to the green power pledge: It's been two years since hometown rival SK Hynix joined the RE100 initiative, which sets a 2050 target for 100% renewable electricity, while global peers including Apple, TSMC and Intel are already among its 350 members.

The timing of the cautious company's announcement, expected as early as the May 10 inauguration of South Korea's new president, will bring it on board just as the country's energy policy is set for a grand U-turn: away from the prior administration's aggressive push into renewables, and towards a pro-nuclear stance.

"It will be a group-wide announcement that also includes affiliates such as Samsung Display," said a person with direct knowledge of the matter.