The Korean government has created an institutional framework for a great leap forward toward a green economic power. In 2009, Korea enacted a Framework Act on Low Carbon Green Growth, the first law of its kind in the world, and released a National Strategy for Green Growth and Five-Year Plan for Green Growth.
In particular, the Framework Act represents a milestone in the national development strategy and the legal foundation of the nation’s green growth policies, approaching green growth in a comprehensive and systematic manner.
The National Strategy for Green Growth envisages three main objectives and ten policy directions, based on a consensus between social, business, academic and government stakeholders. The three objectives include mitigation of climate change and the strengthening of the country’s energy independence, creation of new growth engines, improvement in the quality of people’s lives and enhancement of Korea’s international standing.
- Excerpt from the Address by President Lee Myung-bak, at the 64th UN General Assembly (September 23, 2009)