World Bank and GCF Gather in Jeju... Seeking Regulatory and Financial Solutions for 'Circular Economy 2.0'

[Financial News Jeju = Reporter Jeong Yong-bok] Discussions on the circular economy, which previously focused on determining the amount of waste to recycle, are expanding to include product design, corporate competitiveness, international environmental regulations, and climate finance. International organizations such as the World Bank, the Green Climate Fund (GCF), and the World Wide Fund for Nature (WWF), along with diplomats and environmental experts from various countries, are gathering in Jeju to discuss implementation strategies to transform industry and finance into a genuine circular economy system.
According to Jeju Special Self-Governing Province and others on the 4th, the Ministry of Climate, Energy and Environment and Jeju Province will hold the '2026 Jeju International Environment Forum' at the International Convention Center Jeju on the 10th and 11th under the theme 'The Era of Green Civilization Transition, Circular Economy 2.0'.
The forum, which began in 2021 and is marking its sixth edition this year, has previously focused on plastics and resource circulation as its main agenda. This year, it expands the scope of discussion to include industrial production and consumption structures, international environmental regulations, corporate responses, and international finance.
The government's circular economy policy is also moving in the same direction. This year, the Ministry of Climate, Energy and Environment is expanding its resource circulation policy from a focus on item-specific recycling to include eco-design at the product design stage, circular utilization throughout the entire product lifecycle, and the management of new waste resources such as discarded solar panels. This signifies that the circular economy is transforming into a policy directly linked not only to environmental protection but also to decarbonization and industrial competitiveness.
The forum will be attended by Geum Han-seung, First Vice Minister of Climate, Energy and Environment; Park Eunsik, Commissioner of the Korea Forest Service (KFS); Kang Kum-sil, Global Climate and Environment Ambassador; as well as the Ambassadors of Singapore, Finland, and Kenya to Korea. Officials from international organizations such as the World Bank, Green Climate Fund, and the World Wide Fund for Nature (WWF), along with domestic and international environment and climate experts, will also visit Jeju.
On the first day, the 10th, the focus will be on the role the circular economy should play in responding to the climate crisis and in the new industrial system.
Lee Chang-hoon, Chairman of the National Climate Crisis Response Committee, and Frank Jocho, Professor at the Crawford School of Public Policy, Australian National University, will deliver keynote speeches. Following this, they will share examples of environmental policies and the transition to a circular economy from various countries and discuss measures for international cooperation.
On the second day, the 11th, environmental regulations and money flows that companies actually face will be the key agenda items.
The industry session covers Korea's circular economy policies, trends in European Union (EU) environmental regulations, and corporate response strategies. In the international organizations session, stakeholders from the World Bank, Green Climate Fund, and the World Wide Fund for Nature (WWF) will discuss the role of international resources and finance necessary for the transition to a circular economy.

Responding to environmental regulations is a direct challenge for export companies as well. As international regulations tighten, requiring the management of raw material usage, recyclability, and carbon emissions from the product manufacturing stage, the ability to adapt to the circular economy is becoming a key variable determining corporate costs and export competitiveness.
This year's event is characterized not only by expanding the scale of individual forums but also by consolidating environmental discussions that were previously held separately in Jeju. From the 9th to the 11th, Jeju Province is hosting the '2026 Jeju International Environment Forum Week,' linking seven environmental forums including the World Climate Economy Forum, the Asia Upcycling Jeju Forum, the Jeju Environmental Education City Forum, the World Local Government Environmental Forum, and the Tree Value Forum. This approach connects the climate economy, resource circulation, environmental education, forestry, and international cooperation within a single schedule.
Future generation programs have also been given significant weight. At the opening ceremony, children who participated in the plastic-free education program 'Green Earth Challenge' will sing a children's song with lyrics they wrote themselves. Attendees, including Jeju Governor Wi Seong-gon and Korea Environment Corporation (K-eco) Acting President Cha Gwang-myeong, are scheduled to perform a 'Green Light Performance' with the children.
The forum also features an exhibition where visitors can experience the circular economy firsthand. GS Engineering & Construction’s waste material upcycling process, play and rest facilities, the eco-friendly cotton platform ‘JeCLEAN,’ and the disposable cup deposit system will be introduced.
It is also expected to serve as a stage to showcase the region's environmental policies to the outside world, as Jeju’s disposable cup deposit system and upcycling initiatives, which were the first of their kind in the nation, will be presented alongside international discussions on the circular economy.
The key lies in how effectively the discussions of the international forum are translated into actionable tasks for Jeju and domestic industries. Given that the forum addresses immediate challenges for businesses and the government—such as responding to EU environmental regulations, financing for the circular economy, and managing the entire product lifecycle—a follow-up framework that leads to policies and projects after the event is crucial.
Lim Hong-cheol, Director of the Environment and Forestry Resources Bureau of Jeju Province, said, "The Jeju International Environment Forum, which has focused on environmental agendas centered on plastic issues, has expanded its themes and scale this year to find strategies for action and implementation," adding, "We will ensure that the strategies discussed at the forum lead to changes in Jeju and the international community."


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