Chinese Solar Module Imports Jump 67% in 2019
Major Korean photovoltaics (PV) companies have significantly increased sales of low-priced solar modules from China, hindering the development of the Korean PV industry in the long term.
Solar power generation modules sold by Hyundai Energy Solutions in Korea jumped 55 percent to 801 MW in 2019 from 516 MW in 2018.
Hyundai Energy Solutions is the third largest photovoltaics company in Korea in terms of domestic output, following Hanwha Q CELLS and LG Electronics. In 2019, it accounted for 6.2 percent of the total domestic solar module production (9.6 GW). The company's domestic solar module sales increased eight-fold in 3 years from 106 MW in 2016.
Hyundai Energy Solutions' market share growth began with its importation of Chinese-made solar products.
Last year, Korea’s solar module exports to China plunged 69.3 percent from US$437,000, while imports from China soared 67.4 percent to US$367,526,000.
Korean PV companies importing solar modules from China are under fire as the Korean PV industry is being undermined by Chinese products.