Government Incorporates Green Initiatives into Infrastructure, Energy, and Finance... Formulates 'Green Transition Strategy'

Ministry of Environment and National Research Institutes Hold Roundtable on Green Transition Strategy
Preparing for Post-COVID Era... Creating New Growth Engines and Addressing Environmental Crises
Jomungrae: "We Must Propose New Economic and Social Development Strategies from an Ecological Perspective"

Minister of Environment Jongmyung-rae / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Environment has begun preparing a green transition strategy to respond to the post-COVID-19 era.

On the 13th, Minister of Environment Cho Myung-rae held a roundtable meeting on the theme of a green transition strategy to prepare for the post-COVID-19 era with heads of government-funded research institutes affiliated with the National Research Council for Economics, Humanities and Social Sciences at EL Tower in Seocho-gu, Seoul.

The meeting was attended by Minister Cho, Sung Kyung-ryung, Chairman of the National Research Council for Economics, Humanities and Social Sciences, Yoon Je-yong, President of the Korea Environment Institute, Jang Young-tae, President of the Korea Maritime Institute, Oh Jae-hak, President of the Korea Transport Institute, Cho Yong-sung, President of the Korea Energy Economics Institute, Kim Hong-sang, President of the Korea Rural Economic Institute, Kim Yoo-chan, President of the Korea Institute of Public Finance, and Cho Hwang-hee, President of the Science and Technology Policy Institute.

At the meeting, research achievements pursued by policy research institutions so far were shared, and future policy research directions in infrastructure, transportation, economy, industry, energy, and agriculture were discussed.

The Ministry of Environment views that in preparation for the new normal era of low economic growth after the outbreak of COVID-19, a flexible transition to a resilient society capable of withstanding global external shocks such as large-scale infectious diseases and climate change is necessary, and plans to develop a green transition strategy accordingly.

Starting with this roundtable meeting, the Ministry of Environment plans to operate a policy research forum composed mainly of government-funded research institutes affiliated with the National Research Council for Economics, Humanities and Social Sciences, as well as academia, industry, and civic groups.

The green transition strategy across the economy and society is a new national strategy that goes beyond environmental policy to prepare for the post-COVID-19 era, create new growth engines, and effectively respond to environmental crises.

The main contents will comprehensively include ▲ expansion of green infrastructure such as buildings, transportation, and logistics ▲ promotion of clean energy supply involving residents and local communities ▲ fostering green industries as future food sources ▲ activation of green finance ▲ and sustainable agriculture and fisheries.

Minister Cho said, "We must present a new economic and social development strategy from an ecological perspective after COVID-19," adding, "We will work closely with the best experts in academia, civil society, and industry in Korea to make the green transition strategy a new development strategy."