S. Korea, ASEAN summit to offer chance for cooperation in green growth

By Koh Byung-joon
SEOUL, May 21 (Yonhap) -- The upcoming summit between South Korea and members of
the Association of Southeast Asian Nations (ASEAN) will provide a platform for
the Seoul government to promote its recently ramped-up drive for green growth and
seek future cooperation in the nascent but promising business sector with
neighboring countries, experts said Thursday.
The summit will be held on the southern resort island of Jeju on June 1-2, and
will be attended by South Korean President Lee Myung-bak and the heads of state
and businessmen of the 10 member countries of ASEAN -- Brunei, Cambodia,
Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the Philippines and
Vietnam.
"We will launch an exhibition aimed at promoting our vision of low carbon and
green growth to representatives and businesspeople from countries that will
participate in the special summit," according to the official Website for the
meeting, arranged to commemorate the 20th anniversary of diplomatic relations
between South Korean and ASEAN nations.
"The exhibition will help form a consensus and lay the groundwork for green
growth between South Korea and ASEAN countries," it added. "It will also provide
an opportunity for both sides to cooperate in the area."
A 600-square meter site will be used to showcase the nation's achievements and
visions in the green area including bio, hydrogen, solar energies under the title
of "Green Growth, Green Asia." It is to be held between May 31 and Jun 1 on the
sidelines of the two-day summit.
South Korea is ramping up its drive on green growth aimed at achieving
sustainable growth while minimizing consumption of energy and natural resources
and producing less greenhouse gases.
Such efforts take on more importance for South Korea which has to import most of
its energy needs at a time when experts have raised concerns that crude oil
reserves are fast disappearing. South Korea is the world's fifth-largest oil
importer.
On May 13, the government announced that it will invest 12 trillion won (US$9.6
billion) over the next three to four years until 2012 to develop green
technologies that will create half-a-million jobs.
Under the plan, 4.2 trillion won was allocated to develop green information
technology products until 2013, with the remainder to be invested to solidify the
nation's overall green infrastructure, according to the government.
President Lee Myung-bak has repeatedly stressed that new, environmentally
friendly technologies will not only boost the country's economic competitiveness,
but will be the stepping stone for South Korea to emerge as a world leader.
South Korea's efforts in the field has drawn positive responses from outside.
At a meeting of environment ministers from Group of 20 advanced and emerging
countries held in Italy last month, the United Nations Environment Programme
(UNEP) cited South Korea as a role model, recommending participants that they had
to learn from the Seoul government on how to push for green growth.
Citing a report by the HSBC that analyzed "green" economic stimulus measures of
20 countries, the World Bank also said that South Korea is most eco-friendly.
South Korea has to seek cooperation with ASEAN countries as they have huge
business potential and the summit next month will provide a precious chance for
Seoul to promote its low-carbon, green growth drive and lay the groundwork for
joint research and business deals, experts said.
"South Korea is in the first stage in the development of green technologies and
it will take some time to achieve tangible results but the government-led drive
has been much faster than other ASEAN countries," Lee Seo-won, a researcher at
the LG Economic Research Institute.
"We can provide a benchmark to them at a time when ASEAN countries will likely
come as a great opportunity for South Korea in future joint research in energy
development and potential business cooperation in diverse areas," he added.
kokobj@yna.co.kr
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