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The South Korean government recently unveiled a 73.
4 trillion won ($60.
9 billion) Green New Deal as part of a broader national strategy to shift the economy from carbon dependence to low carbon and prepare for
the post-COVID-19 era.
South Korea's Ministry of Trade, Industry and Energy said the funds invested in 2020-2025 will create 659,000 jobs and help the country overcome the economic crisis caused by the novel coronavirus disease while tackling climate and environmental challenges
.
By 2025, South Korea will seek to increase renewable energy capacity to 42.
7 GW from 12.
7 GW last year and expand the scale of new energy vehicles to 1.
33 million electric and hydrogen-powered vehicles
.
The plan also promises to renovate public rental housing and schools to make them net-zero and transform urban areas into green smart cities
, the agriculture ministry said.
The Green Strategy, one of the main elements of the Digital New Deal, is the second pillar
of South Korea's New Deal announced by President Moon Jae-in on Tuesday.
"The Green New Deal is about pre-empting the climate crisis, and the COVID-19 pandemic has reaffirmed the urgency to address climate change
.
"
By 2025, South Korea's new policy will involve 114 trillion won in direct investment from the national treasury, which will increase to about
160 trillion won when combined with funds from the private sector and local governments.
The Green New Deal plan will create 1.
9 million new jobs
over five years.
The South Korean government recently unveiled a 73.
4 trillion won ($60.
9 billion) Green New Deal as part of a broader national strategy to shift the economy from carbon dependence to low carbon and prepare for
the post-COVID-19 era.
South Korea's Ministry of Trade, Industry and Energy said the funds invested in 2020-2025 will create 659,000 jobs and help the country overcome the economic crisis caused by the novel coronavirus disease while tackling climate and environmental challenges
.
By 2025, South Korea will seek to increase renewable energy capacity to 42.
7 GW from 12.
7 GW last year and expand the scale of new energy vehicles to 1.
33 million electric and hydrogen-powered vehicles
.
The plan also promises to renovate public rental housing and schools to make them net-zero and transform urban areas into green smart cities
, the agriculture ministry said.
The Green Strategy, one of the main elements of the Digital New Deal, is the second pillar
of South Korea's New Deal announced by President Moon Jae-in on Tuesday.
"The Green New Deal is about pre-empting the climate crisis, and the COVID-19 pandemic has reaffirmed the urgency to address climate change
.
"
By 2025, South Korea's new policy will involve 114 trillion won in direct investment from the national treasury, which will increase to about
160 trillion won when combined with funds from the private sector and local governments.
The Green New Deal plan will create 1.
9 million new jobs
over five years.
