Korea has been at the forefront of green growth initiatives. The
National Strategy for Green Growth (2009-2050) and the Five-Year
Plan (2009-2013) of Korea provide a comprehensive policy
framework for green growth in both the short and long term. In
the long term, the National Strategy for Green Growth aims to:
1) promote eco-friendly new growth engines, 2) enhance peoples’
quality of life and 3) contribute to international efforts to
fight climate change. To facilitate its realization, a
Presidential Commission on Green Growth was established in 2009
and a Framework Act on Low Carbon Green Growth was enacted in
2010. The Five-Year Plan outlines government actions for
implementation of the Strategy, and detailed tasks for
ministries and local governing entities as well as specific
budgets. Under the plan, the government will spend approximately
2% of annual GDP on green growth programs and projects.
Investments will initially be geared towards infrastructure
systems in order to boost the economy. New Songdo C