South Korea will spend US$103 billion through 2030 in developing new renewable energy, to cut its reliance on fossil fuels and reduce carbon dioxide (CO2) emissions. The new plan, announced on Wednesday, is part of a long-term energy strategy and will come on top of other energy policies and overseas resource development plans. Capacity for solar, wind, bio and geothermal power generation will be expanded. South Korea wants to lower the portion of fossil energy to 61 percent by 2030 from the current 83 percent, while bumping up the portion of new renewable energy to 11 percent, according to