"Agree with the carbon reduction direction of the climate conference... Need to communicate with the industrial sector"

[Asia Economy Reporter Jeong Hyunjin] The Federation of Korean Industries (FKI) has requested the government to consider that the rapid greenhouse gas reduction targets set at the climate summit led by the U.S. administration under Joe Biden could pose a burden on the industrial sector.

In a statement on the 23rd, the FKI said, "We broadly agree with the announcement made by the leaders of countries including South Korea, the U.S., and China at the climate summit that they will make joint efforts to reduce carbon emissions," adding, "Our government has also declared the goal of achieving carbon neutrality by 2050, and companies are making extensive preparations."

It continued, "However, South Korea has a higher proportion of manufacturing in production and employment compared to major countries," and pointed out, "Rapid greenhouse gas reduction targets could pose a significant burden on our economic vitality and job creation."

The FKI requested, "We ask the government to actively communicate with the business community to ensure that such difficulties faced by the industrial sector are sufficiently reflected in the future implementation of carbon neutrality policies," and added, "The business community will also do its best to respond to climate change through low-carbon initiatives."