The free trade pact with the European Union that went into effect this month is expected to fuel growth for South Korea\'s renewable energy industry, a report by a local think tank said Sunday. The Institute for International Trade (IIT) said that the immediate lowering of tariffs, which reach up to 3.3 percent, will give companies in such areas as solar energy and wind power generation a clear advantage over rivals in Japan and China that have been eyeing the lucrative EU market.