High oil prices spur demand for low energy electronics

By Rhee So-eui

SEOUL (Reuters) - These days when customers walk into electronics stores, the first question they ask is how much electricity the fridge, washing machine or laptop computer they are contemplating buying consumes.

"Energy savings were not exactly a hot topic among customers last year," said Kim Dong-han at South Korean electronics retailer Hi-Mart. "But this year, nine out of ten people ask point blank whether a product will help them save money."

With oil at around $145 a barrel and electricity costs jumping, consumers are becoming preoccupied with keeping down their power bills. Electronics makers that develop energy efficient product lines and market them effectively to customers may get an edge in a gloomy global economy, firms say.

"Going green is not only eco-friendly but crucial for business," said Kim Jik-soo, a spokesman at LG Electronics. "This goes beyond just products, extending throughout the development and manufacturing process."

From washing machines that use steam instead of hot water, to fridges that use low energy compressors, to low power computer screens, electronics firms are furiously developing energy efficient products and heavily promoting lines already on the market that use less electricity than competitors' brands.

"My electricity bill more than doubles in the summer as we turn on the air conditioner," said Park Yu-jin, 32, a housewife in Seoul with two kids.

"I also have to do lots of laundry for the kids. The bill now easily tops 170,000 won (82 pounds) a month."

Homemakers such as Park are increasingly buying front-load washing machines, which use gravity to move water instead of agitators as in top loaders.