To implement the national vision of green growth more effectively, the National Strategy for Green Growth was adopted along with the Five-Year Plan for Green Growth. The National Strategy and the Five-Year Plan are mid- to long-term (2009~2050) national agendas which are to be implemented through the collaborative efforts of various governmental organizations, industries and civil society.
The National Strategy is divided into ten specific policy directions:
(1) effective mitigation of greenhouse gas emissions;
(2) reduction of the use of fossil fuels and the enhancement of energy independence;
(3) strengthening the capacity to adapt to climate change;
(4) development of green technologies;
(5) the “greening” of existing industries and promotion of green industries;
(6) advancement of the industrial structure;
(7) engineering a structural basis for the green economy;
(8) greening the land, water and building the green transportation infrastructure;
(9) bringing the green revolution into our daily lives; and
(10) becoming a role-model for the international community as a green growth leader.
In order to put into action the agendas set out in the National Strategy in a more systemic and consistent manner, the Korean government revived the practice of the five-year plans, which had been very effective during the early development era of the Korean economy. The first Five-Year Plan for Green Growth, covering 2009 through 2013, is a manifest of the political commitments as well as a blueprint for government actions, containing specific budget earmarks and detailed tasks assigned to line ministries and local governing entities. Under the plan, the government will spend about 2 per cent of the annual GDP on green growth programs and projects that comprise the construction of various green infrastructures as well as spending plans for research and development of green technologies. The investments on the infrastructure will be initially much bigger than on R&D due to the ‘New Deal’element, designed to counter the current economic downturn. However, as the economy recovers, the R&D portion will be increased.