Fast Mover

Transformation towards a green economy

• Expansion of green R&D investment
• Korea recognizes the importance of green technology, and is expanding its R&D investment in green sectors in order to lay the foundation for sustainable growth. The government is making a special effort to facilitate investment in green technology to develop clean energy sources. In particular, the Korean government has identified 10 key green technologies for R&D support.

  *10 key green technologies
  rechargeable batteries, LEDs, green IT,high-efficiency photovoltaic cells, green cars,smart grid, advanced nuclear power,fuel cells, carbon capture and storage,CCS and water treatment.

• Change in green business investment
• Korean companies are expanding their investment in greenbusinesses in order to secure their place in the world’s green markets. Korea’s 30 business groups have already invested more than 15.1 trillion won in the green sector, starting with 2.4 trillion in 2008, 5.4 trillion in 2009 and 7.3 trillion in 2010. These figures represent an increased investment of 74.5% annually over the period. Looking forward, these companies are projected to invest another 22.4 trillion won from 2011 to 2013, an increase of 48.2% compared to the previous three years.
• Development of new and renewable energies
• Since 2008, Korean companies with technologies in the new and renewable energy sector have grown a remarkable 2.2 times in terms of their total number, 3.6 times in the size of employment, 6.5 times in sales, 5.9 times in exports and 5 times in terms of private-sector investment. Korea plans to nurture photovoltaic and wind power as the iconic green industries of the country by investing a total of 40 trillion won.

Green homeland and transportation

• Zero Energy House
• Korea plans to require buildings to be zero in energyconsumption by 2025.In 2011, Korea is working to create a ‘Green Home Park Complex’ where residents can actually live a low carbon life, which will offer a model for green cities across the nation.
• KTX High Speed Rail Network
• Korea has drawn up a plan to complete a KTX High-Speed-Rail Network which will connect all major cities across the nation within one and a half hours by 2020. The expected outcome is 7.74 million tons of CO2 reduction and 6.9 trillion won in various social benefits.
• Cheonggyecheon Stream Restoration Project
• The Cheonggyecheon Stream Restoration Project is probably Korea’s first-ever serious green growth initiative by then-Mayor of Seoul City, Lee Myung-bak. Cheonggyecheon was a creek flowing through downtown Seoul until it was covered and an elevated expressway built over it. After scrapping the elevated highway and restoring the stream, a new ecological haven in the center of Seoul was born. It is a landmark of green growth where a variety of animals and plants now thrive. This project restored not only the stream itself but also the history, culture and natural environment of Seoul.
• Four Major Rivers Restoration Project
• The Four Major Rivers Restoration Project, undertaken from 2009 to 2012, seeks to minimize water-related damage caused by climate change and to secure reliable supplies of water resources by increasing those resources by more than 1.3 billion tons. This project has been highly praised by UNEP as an effective way of adapting to climate change. It is quickly becoming a benchmark for environment-friendly green business in the developing countries. It is Korea’s most iconic Green New Deal project.