Korea and Global Green Growth

Korea aims to create global green growth network

06-28-2011 - The global race to develop core green technologies has already begun.

The supply of fossil fuel resources rapidly declines, but global energy demand is forecast to increase approximately by one third over the next 25 years.

Indeed, developing alternative, clean energy sources has become an urgent task for many countries as climate change is one of the greatest challenges the world faces today.

Korea’s “low carbon, green growth” vision, unveiled in 2008, represents its resolve to become a “fast mover” in this endeavor.

The strategy calls for a smooth transition to a greener and more energy-efficient economy making use of a greater share of renewable and clean energy with a lesser dependence on fossil fuels.

Following the oil crisis in the 1970s, several European countries such as Denmark were “early movers” effectively decoupling economic growth and energy consumption. Korea is now rapidly emerging as a green growth power with comprehensive national and international initiatives.

Officials here hope the country’s new vision will achieve harmony between the economy and the environment while tackling climate change and environmental challenges by enhancing resource efficiency and securing innovative new growth engines. {read more}