The Past Three Years of Achievements in Green Growth

□ Since President Lee Myung-bak of the Republic of Korea put forward Low Carbon Green Growth as the core of the Republic’s new development vision on August 15, 2008, the country is fast transforming into a green economy and society with the implementation of comprehensive green growth policies in partnership with businesses, the citizenry and government and establishing an effective system to reduce greenhouse gas emissions.

○ Looking back over the past three years, the first year saw a focus, on building the foundations for green growth. In 2009, the Presidential Committee on Green Growth was launched, a Green Growth National Strategy and Five-Year Action Plan were established, and a Framework Act on Green Growth was enacted. In 2010, Korea put emphasis on developing green technology and industry including photovoltaic energy, wind energy, LED, green finance and green SMEs. This year, Korea has been trying to improve the institutions needed to transform the country into a low carbon economic and social structure by putting forward a bill on the enactment of Emission Trading Scheme (ETS) and rationalizing the price of electricity.

□ The Korean government plans to implement low carbon green growth into the daily life of Koreans and industries. It holds monthly meetings on the progress of major green growth policies presided over by Prime Minister in order to tackle the energy crisis and take the lead in green race in the world.

□ The Presidential Committee on Green Growth, which is co-chaired by Prime Minister Hwang-sik Kim and Soogil Young from the private sector, presented Past Three Years of Achievements and Future Directions of Low Carbon Green Growth on August 11. The main focuses are as follows: