The Economic Opportunities and Constraints of Green Growth: The Case of South Korea

To this end, 15 green technologies were chosen as priorities for governmental support. A number of green growth policies, such as the emission trading system, the Green Homes Project and the Renewable Portfolio Standard, are expected to provide a stable framework for domestic market expansion. In addition, the government R&D investment plan is expected to play an important role in filling a technological gap between South Korea and leading countries in green energy.
The nation's well-developed industrial foundation in areas such as technology and infrastructure will be an advantage that can be easily applied to the green energy industry. Furthermore, the nation's advanced IT and electronic technology firms have entered the smart-grid business.
Based on strong political support and policy measures, South Korea's green growth policy has showed noticeable progress in a short period of time. However, the biggest challenges are technological dependency and growing competition in the global market. Also, the transition from a hydrocarbon-based economy to a renewable-based one could bear a huge economic and social cost. The speed of the transition, as well as a series of external variables - such as the global economic condition - will also affect the progress of green growth in South Korea.
Available in:
Regions and themes
ISBN / ISSN
Share
Download the full analysis
This page contains only a summary of our work. If you would like to have access to all the information from our research on the subject, you can download the full version in PDF format.
The Economic Opportunities and Constraints of Green Growth: The Case of South Korea
Related centers and programs
Discover our other research centers and programsFind out more
Discover all our analysesSri Lanka’s NPP Government. From System Change to Structural Compliance
In September 2024, a relative outsider to Sri Lanka’s two-party-dominated political system, Anura Kumara Dissanayake, won the presidential elections. The anti-establishment, populist movement he represented, the National People’s Power (NPP), went on to receive an overwhelming mandate in the November 2024 general elections, winning 159 seats in a 225-member parliament.
Japan Under Trump: Alliance Strains, the Push for Autonomy and Essential Partnerships
Japan is under pressure from the United States (US) on punitive tariffs and demands for increased defence spending. This has sparked deep concern over US credibility and triggered growing domestic calls for greater autonomy.
Quest for Strategic Autonomy? Europe Grapples with the US - China Rivalry
Building on the 2020 European Think Tank Network on China (ETNC) report, which assessed Europe’s positioning amid the strategic rivalry between the United States and China, this edition re-examines the geopolitical landscape in light of the Covid-19 pandemic, Russia’s war in Ukraine and Donald Trump’s return to the White House. This report features 22 national chapters and one dedicated to the EU, analysing the evolution of Europe’s relations with Washington and Beijing, the range of approaches to dealing the US-China rivalry and how these are expected to evolve.

France seeks third way between US and China in Southeast Asia
The French leader sent a message of partnership but gave few concrete details on sustained engagement plans.