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Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA 1 Green growth: New paradigm for economic.

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Presentation on theme: "Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA 1 Green growth: New paradigm for economic."— Presentation transcript:

1 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA 1 Green growth: New paradigm for economic development Republic of Korea 1

2 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA 2

3 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA New path Green growth The Stone Age didn’t end because we ran out of stone 1. Address climate change 2. Raise energy independence 3. Need for a new growth model 3

4 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA Green technology development Green existing industries Create new green industries Reduce GHG emissions Decrease fossil fuel reliance Environmental protection Economic growth Green growth Low carbon green growth as a new development vision green technology Aimed at making a transition to low-carbon economic and industrial structure as well as eco-friendly lifestyle by developing green technology as a new growth engine. 4

5 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA (2) Demand-Side Policy – Carbon Pricing ■ Environmental tax on gasoline and diesel (‘07) * invest tax revenue in energy, environment, transportation facility ■ Various carbon tax under study - reflect social costs including GHG emission 5 ETS Eco Tax reform Electricity price ■ Rationalize electricity price - link electricity price with the fuel price change - introduce critical peak pricing and green pricing ■ Introducing ETS (Emission Trading Scheme) - (’11) legal framework (ETS bill under consideration by National Assembly) - (’12~’14) pilot projects - (’15) implementation

6 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA (2) Demand-Side Policy - Regulation ■ Fuel efficiency over 17km/L or ■ GHG emissions less than 140g/km by 2012 ■ (‘10) Strong energy efficiency standard for new public buildings(300kwh/m²·year) ■ (‘11) 10% renewable energy use for public buildings(above 100m²) ■ (‘10) Impose mandatory targets on major emitting entities (70% of total GHG) ■ (‘11) 458 designated entities subject to regulation 6 ■ RPS(Renewable Portfolio System) : (‘12) 2% -> (‘20) 10% ■ RFS(Renewable Fuel Standard) : (‘12) 2% -> (‘20) 7% * Renewable energy export(billion USD) : (‘07) 0.6 -> (‘10) 4.5 -> (‘12)10.7 GHG/energy target management systemIntroduction of RPS & RFS Building code Fuel efficiency enhancement

7 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA (2) Demand-Side Policy - Market Creation ■ Carbon cash-back system ■ Products with carbon label (unit) : (‘09) 50 → (’13) 500 ■ Carbon point system & green card  Smart grid test bed (‘09~’13)  Green home complex (’12~)  Offshore wind power plant (‘13) ■ World’s largest tidal power plant & Four Major Rivers Restoration Project completed in 2011 ■ Nation-wide smart grid network by 2030 7 ■ 30% LED for public buildings by 2012 ■ Expand government’s green procurement : 3 (‘09) -> 6 (‘13) (trillion KRW) Green infrastructureGreen procurement Test-bedsGreen consumption

8 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA (3) Supply-Side Policy – R&D and HR 8 ■ Expand tax credit rate for green tech R&D (30% for SMEs, others 20%) * (‘10) Development of high-speed electric vehicle for mass production Increase government’s green R&D investment Expand tax benefits for private Green R&D investment Support adoption of Korean standards as global standard ■ Green Tech R&D : (‘08) 1.4  (‘12) 2.8 (trillion KRW) * Government’s total R&D : (’08) 11.1  (‘12) 16.6 ■ Focus on 27 core green technologies ■ Strengthen industry, academia, research partnerships

9 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA (3) Supply-Side Policy - Financing 9 ■ Lower KOSDAQ listing requirements ■ Exempt income tax for long- term green fund and deposit ■ Investment Tax Credit Program for energy facility ■ SME fund of funds - (‘09) 60  (’11) 110 (billion KRW) ■ Credit guarantee to green SMEs - (’09) 2.8  (’13) 7.0 (trillion KRW) ■ Public loans to green SMEs - (’09) 130  (’13) 660 (billion KRW) ■ Government’s total R&D - (‘09) 2.0  (’13) 2.8 (trillion KRW) ■ R&D matching fund (300 billion KRW) Exempt interest income tax and dividend income tax for green deposit and fund Issue green certificates for green technologies, projects and green companies Tax benefits for Green deposit & Green fund + Green certificate R&D Commer cialization Growth Customized support by development phase

10 Line Charts A AA A A A A AAA A A AAAAAA AAAAAA ? GO 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 6 6 6 6 AAAAAA AA 8 ■ Global think tank for mainstreaming green growth low carbon economy - formulate green growth strategy in developing countries ■ Donors(’11) * Australia, Denmark, Japan, UAE ■ Global Green Growth Summit (’11) 10 ■ Announce voluntary GHG reduction target ■ Propose NAMA registry (’09) ■ UNEP 「 Overview of Korea’s National Strategy for Green Growth 」 (’10) ■ OECD 「 Towards Green Growth Strategy 」 (’11) ■ Korea-Denmark Green Growth Alliance (’11) ■ ESCAP 「 Green growth roadmap for East Asian region 」 (’12) ■ Selected as a G8 smart grid leader country ■ Host ISGAN(International Smart Grid Association Network) Secretariat (’10) Green Partnership Global Green Growth Institute (GGGI) Smart grid Fast mover of green growth UN Climate Change Negotiations


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