The Strategist

South Korea aims to reach zero carbon emissions by 2050

10/29/2020 - 06:33

South Korea's President Moon Jae-in has announced his country's plans to reach zero carbon footprint by 2050. Two days earlier, Japanese authorities had announced a similar initiative.

Speaking to Parliament, the South Korean president said: “Together with the international community, we are committed to actively combat climate change and aim to achieve zero carbon emissions by 2050”.

To this end, the South Korean authorities intend to go in several directions - to abandon the use of coal, which now provides 40% of the country's energy, to stimulate the creation of jobs in alternative energy and more active production of electric and hydrogen cars, the development and promotion of appropriate technologies, modernization of residential, administrative and industrial buildings.

The president has already promised to allocate 8 trillion won (approximately $7.1 billion) for these initiatives. According to him, by 2025 there will be 1.13 million electric and about 200,000 hydrogen vehicles on the roads in South Korea, compared to 91,500 and 5,000 respectively in 2019. 

In order to encourage environmentally friendly vehicles, the government has already planned to further develop the network of relevant charging and filling stations throughout the country.