South Korea says it will ban production and imports of incandescent light bulbs in favor of high-efficient types such as light-emitting diode light bulbs. The Ministry of Trade, Industry and Energy said South Korean companies will be prohibited from producing and importing incandescent light bulbs beginning Jan. 1, 2014, China\'s Xinhua news agency reported. The government had decided in 2008 to gradually phase out the use of incandescent bulbs, which waste as much as 95 percent of electricity energy they consume as heat. Using the LED light bulbs will cost consumers around $2.50 per year in electricity bills and purchase costs, the ministry said, compared with $14 for incandescent lighting usage. If incandescent light bulbs are completely replaced by higher- efficient devices, officials said, it would save South Korea around 1,800 gigawatt-hours per year in electricity.