South Korea is making up for lost time as it follows China into the global clean energy race, once again leaving behind the U.S. in the dust.

Below we've compiled some of the most important updates out of South Korea as the country makes its way to the forefront of the global clean technology sector:

After Slow Start, South Korean Solar Companies Make Up for Lost Time

South Korea's solar companies have made headlines recently as they come from behind in the market for solar cells, expecting to double their global market share this year to 4.7%. Samsung Group, Korea's biggest conglomerate, plans to invest $20.6 billion in solar cell production over the next ten years, while Hanwha Chemical, a subsidiary of South Korea's fourth largest conglomerate, has purchased a 50% share of Chinese solar PV producer Solarfun Power Holdings. South Korea's POSCO, the world's third largest steelmaker, plans to purchase Norway's Elkem, a main producer of the silicon used for solar panels.

These investments, and likely more to come, will put the country in fourth place in the global market for solar cell production, behind other rising clean tech tigers China, Japan and Taiwan.

These investments, and likely more to come, will put the country in fourth place in the global market for solar cell production, behind other rising clean tech tigers China, Japan and Taiwan.

Update (10/19/2010):

South Korea Reaches for "Green Growth"

The South Korean government recently announced a five-year plan to invest $36 billion (40 trillion S. Korean won) in clean energy technologies, anticipating these investments to be major sources of economic growth for the country.

The plan consists of a government investment of $6 billion (7 trillion won) and $30 billion (33 trillion won) in private sector spending by 2015. With this massive infusion of funds, the country expects to become a global clean energy leader by 2015.

This is part of the country's "Green Growth" strategy, intended to generate economic growth and substantial job creation, and establishing South Korea as the first emerging economy to set an emissions reductions goal, aimed at cutting the country's carbon emissions by 30 percent from 2020 predicted levels.

Updated (11/03/2010):

South Korea Moves Offshore in Clean Energy Race

In the latest in a series of South Korean private-public partnerships in clean energy technology research and development, the South Korean government has announced its plans to invest 9.2 trillion won, $8.2 billion, in offshore wind power farms by 2019.

The government and several private companies are expected to build 500 wind turbines off the country's cost, totaling over 2,500 megawatts in capacity. These wind farms will give South Korean companies a crucial opportunity to build experience and develop technology to compete in the global race for wind technology development.