S. Korea enacts 'low-carbon, green growth' law

SEOUL, Jan. 13 (Yonhap) -- South Korea formally laid the legal framework
Wednesday for its "low-carbon, green growth" campaign as President Lee Myung-bak
signed and promulgated related legislation, his office said.
The Basic Law on Low Carbon and Green Growth, which passed the National Assembly
late last month, calls for the country to spend two percent of its gross domestic
product annually in developing environment-friendly businesses and projects as
part of efforts to achieve the twin goals of economic growth and a reduction in
greenhouse gas emissions.
"The law is a result of the people's concerted efforts for green growth, which is
a new national vision," Lee said in the signing ceremony held at his office
Cheong Wa Dae. "Now, South Korea has a strong legal and institutional basis to
become a leading country for green growth in the international community."
In November last year, South Korea announced its first greenhouse gas reduction
target, pledging to cut emissions of carbon dioxide and other greenhouse gases by
4% below 2005 levels by 2020. The move was taken voluntarily since South Korea is
not among those countries required to cut emissions under the existing Kyoto
Protocol.
The president, however, said the legislation is "not an end but a new start,"
calling on the country's political, businesses, and civic groups to be more
active in supporting the government's efforts.
The new law will go into effect on April 13, the presidential office said.
lcd@yna.co.kr
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