In the full recognition of the seriousness of climate change problems, Korea announced a new policy towards greening its economy. In his address marking the 60th anniversary of Korea’s foundation in 2008, President Lee Myung-bak declared ‘Low Carbon Green Growth’ as the country’s new vision to lead the country’s development for the next decades. In 2009, the government announced the ‘National Strategy for Green Growth’ up to 2050, to be gradually implemented through five-year plans.
The national strategy envisages three main objectives: (1) mitigation of climate change and the strengthening of the country’s energy independence, (2) creation of new growth engines, and (3) improvement of the quality of people’s lives and enhancement of Korea’s international status. These goals are pursued by 10 designated policy directions, such as mitigation of greenhouse gas emissions, development of green technologies, creation of a green homeland and others.
