(EDITORIAL from the Korea Herald on Feb. 20)

Green growth

The government earlier this week announced yet another plan for green growth. The
Presidential Committee on Green Growth, which held its inaugural meeting Monday,
outlined a plan to boost the country's energy independence and green technology
to create a "Green Korea." The committee said that by 2030, Korea should be among
the world's top 10 nations in green technology.

A key feature of the plan is the legislation of a basic law on low carbon green
growth. Other projects include spending 1.2 trillion won ($827 million) in the
next decade to build a nationwide network of bicycle paths. Substituting all
incandescent light bulbs with more energy efficient LEDs at all public facilities
by 2012 is also part of the plan. The government also said that it would review
the adoption of daylight saving time.
President Lee Myung-bak said that the new projects would provide a strong source
of growth once the current global economic crisis improves. For this to hold
true, the government must come up with "bigger" plans than those that have been
announced. Building of a nationwide network of bicycle paths will create jobs,
mostly in the construction sector, and the replacement of light bulbs will be a
boon for the companies that manufacture LEDs. However, these hardly contribute to
the development of green technology.
The adoption of daylight saving time should also be approached with more caution.
If our neighboring countries such as Japan and China do not adopt the scheme, a
summer time system in Korea alone may end up causing a great deal of confusion
and incurring costly expenses.
Monday's announcement follows on a 50 trillion won program announced last month
that includes a project to clean up and restore the country's four major rivers.
The program, dubbed the "Green New Deal," is intended to create over 900,000
jobs. Last August, Lee presented low-carbon, green growth vision for the next 60
years.
The government is right to focus on green growth. Countries around the world have
embarked on this path. However, it should present broader, long-term projects
that will lead to sustainable development.
The development of renewable energy sources is central to green growth. Countries
around the world have already embarked on developing wind energy, solar energy
and other forms of renewable energy.
The government should make greater investments in renewable energy research and
development and provide financial and tax incentives for businesses involved in
the development of renewable energy.
For the green growth plan to be successful, public participation and support are
essential, as it requires a dramatic change in lifestyle. As Lee noted, there is
little awareness of green growth among the general public. The government should
take the time to explain and persuade people on the need for a green growth
strategy.
(END)