Samsung Electronics, Asia’s biggest producer of chips, flat-panel screens and mobile phones, announced plans to invest Won5,400bn ($4.3bn) by 2012 to reduce greenhouse gas emissions.

The South Korean government plans to generate growth from alternative energy and other environmentally friendly projects. This month Seoul said it would invest Won107,000bn, or about 2 per cent of gross domestic product, in “green growth” areas in the next five years.