Saemangeum, North Jeolla Province, will be reborn as a green, waterside city in new plans unveiled by the government on March 16. Korea will inject more than ten trillion won to build a new port and bimodal trams, a new form of green transport, the government said.
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Hyundai Kia Automotive Group announced on Thursday that the Hyundai Tucson ix and Kia Sportage R compact sport utility vehicles received the Carbon Footprint Labeling Certification from the Korea Environmental Industry and Technology Institute.
SEOUL July 12 (Reuters) – The South Korean government said in a statement on Monday that the country’s total public and private investment in carbon capture and sequestration would reach an estimated 2.3 trillion won ($1.92 billion) to 2019.
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South Korea’s government said Thursday that it has agreed with a U.S. carbon exchange operator to intensify bilateral cooperation as it seeks to launch its own market for carbon emission rights trading.
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The government decided on a greenhouse gas reduction goal of 30 percent below the business-as-usual (BAU) forecast by 2020 in a Cabinet meeting presided over by President Lee Myung-bak on Tuesday.
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It has been confirmed that the Presidential Committee for Green Growth (PCGG) had reduced the targeted amount of CO2 emissions reduction by inflating the anticipated amount of CO2 emissions and correspondingly curtailing the level of possible reduction.
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The administration is seeking to reduce the countrys greenhouse gas emissions by 4 percent by 2020 from 2005 by promoting the use of bio and nuclear energy, and energy-efficient technologies, officials said Wednesday.
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The administration is reportedly planning to commit itself to a drastic cut in greenhouse gas emissions when it makes a final decision on the issue on Nov. 17. Worried about its impact on their business, corporations are calling on the administration to be realistic about its target for 2020.
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Seoulites can receive monetary incentives of 50,000 won for efforts to reduce greenhouse gas through the new Eco-mileage system, officials said Thursday.
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Three scenarios for carbon gas reduction were announced today by the Presidential Committee on Green Growth with different target rates aiming at a 21, 27 or 30 percent reduction by 2020.
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