Like other countries on Earth, Korea also confronts the crisis of environment and energy sources. Climate change has affected the ecosystem as well as human life. Also as energy sources have big inequalities of supply and demand, we are in a crisis of resource depletion. Therefore the Korean Government formulated a 5 year plan for Green Growth. On June, 9 at COEX, Jang Joung-jin, Director of Policy Planning & Coordination Team of The Secretariat of the Presidential Committee on Green Growth, presented the national strategy and 5 year plan for Green Growth.
For a virtuous cycle of environmental & economic and betterment of life style, Green Growth is definitely needed. And the Presidential committee on Green Growth expects that Green Growth will bring the spread of clean energy and the greening of industrial structures plus, income growth and job creation. The plan started being drafted from 2008. The final plan was confirmed in July last year.
The overarching policy details of the plan for Green Growth are for efficient greenhouse gas reduction, enhancing energy independence and an oil-free society, strengthening climate change adaptability, creating green technology and growth mobilization, development of green industry and greening of industry and much more.
The mechanism the Korean government is using to implement the plan is supported by investment. Not forgetting that this is an approach that top analysts cite as a veritable success factor for commercial support in Asia. The Korean government invested and will invest KRW 107 trillion in total from 2009 to 2013 and forecasts to create a return on investment to the amount of KRW 182 to 206 trillion, but a date was not stated for the expectation of return.
Through the promotion of the plan, the Korean government established Green Growth infrastructure and in 2013, the government seeks to be the powerhouse of green technology and industry. And 10 years later, their aim is to become the one of seven green growth leading countries and to be able to support other lagging countries. And eventually, Korea expects to be the fifth leading green nation in the world in 2050 through its intervention efforts.
The 'greening plan' is and will be promoted in cooperation with central and administrative organizations and private consortiums.
