President says 'green growth' will put Korea ahead in crisis, competition

By Byun Duk-kun
SEOUL, April 30 (Yonhap) -- President Lee Myung-bak said Thursday his country
will continue to invest more in developing new green technologies, the sector
that will pull the country out of the global economic crisis and prepare it for
what he called a different kind of international competition in the future.
"Korea will overcome the crisis through green growth. What matters is where our
nation will stand after the crisis is over," the president said, noting economic
growth based on "conventional means" will no longer be able to put the country
ahead of others.
"However, a new world order can be established amid this global economic crisis,"
he said in a ceremony marking the launch of a new movement, Green-Korea, by the
Ministry of Gender Equality to promote environmentally friendly ways of living
and job creation for women.
Lee has repeatedly said "green technology" will be a key source of growth and
competitiveness in the future.
Under a "Green New Deal" project worth 50 trillion won (US$38.97 billion), South
Korea plans to restore its four major rivers to improve the quality of water and
create nearly 1 million jobs.
Seoul has also decided to increase its state investment on research and
development of green technologies by 10 percent every year until 2012, when
investment will be 5 percent of the country's gross domestic product.
"We must prepare for the future even in times of a crisis so we can move ahead
later. We must not back down just because the task is difficult," he said.
bdk@yna.co.kr
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