S. Korea's green growth committee takes initiative in low-carbon, eco-friendly policies

15:42, May 31, 2010      

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It all began when South Korean President Lee Myung-bak proclaimed green growth as his regime's core agenda item.

"I want to put forward ]Low Carbon, Green Growth' as the core of the Republic's (South Korea) new vision," said Lee in his speech on Aug. 15, 2008, the 60th anniversary of the founding of South Korea.

The new paradigm is designed to be implemented through a substantial green stimulus package and a plan of action for the next five years, which were later devised by government task forces.

The green stimulus package focuses on a mix of financial, fiscal and taxation policies which altogether amount to 38.1 billion U.S. dollars, or around 4 percent of gross domestic product (GDP), to be implemented over the period 2009-2012.

In addition, South Korea's Five-Year Plan for Green Growth seeks to embody three strategies of tackling climate change and securing energy independence, creating new growth engines, improving quality of life and strengthening the status of the country.

The three strategies include 10 policy directions, such as reducing ca

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