On July 13, The Presidential Green Growth Commission held its 8th regular meeting. While about 200 distinguished members attended, the commission discussed 'The Voice of the Market for Green Growth,' 'Subjects for Green Investment and Supporting plans for Green Businesses' and 'Industrialization of Key Green Technologies.'
This time, the theme of the meeting was 'Market-Driven Green Growth'. Since the commission has been pushing hard for Green growth but it is not thorough enough for forcing the growth of green companies and activating the green market.
Therefore, Lee Myung-bak, President of Korea declared, "It is time to develop green technologies and industries in earnest based on institutional foundations such as, five years plan and with basic laws"
According to research, as the green industry is fast becoming a powerful growth engine in the global market, domestic companies want the Korean Government to strive for specialist training to strengthen the competitiveness and introduction of financial systems specializing in the green industry, provide support system for the green industry and active advancing to overseas markets.
At the same time, the meeting talked intensively about training for professional green SMEs (Small and Medium Enterprises). The commission makes up for weak points in incompleteness of the initial market. And in order to create a foundation for Green Growth and employment the commission draws up plans such as, expansion of financial investment and efficiency, supporting the green tax and financial facilitation.
With the goal of expanding the size of the green market to KRW 6 trillion by 2013, the commission aims at expanding infrastructure for public demand, easing the barriers to entry to public market and green design/construction of public buildings.
Also in terms of industrialization of key green technologies, the commission plans to promote national development and commercialization plans for CCS (Carbon Capture and Sequestration). Since CCS is considered as a promising industry in the world, the Korean Government tries to take the lead.