President Lee: “Carbon trade barriers are rising by the day ... We must lead the green market”

[Financial News] President Lee Jae-myung said on the 7th, “There’s a saying: If you can’t avoid it, enjoy it. We must break away from the habit of following others and become the designers and leaders of the green market, shaping the playing field ourselves.”
At the public briefing on the Korean-style Green Transformation (K-GX) Strategy in Seoul that day, President Lee said, “Carbon trade barriers, including Europe’s carbon border tax, are rising by the day, and foreign companies are also strongly demanding carbon reductions in the products they procure. Taking the lead in the green transition is a sure strategy for securing international competitiveness while also protecting our people’s lives and homes from the climate crisis.”
President Lee stressed, “The green transformation is essential to maintaining our advanced industries’ overwhelming technological lead and ensuring the success of the three mega-projects,” adding, “We must use our world-class R&D capabilities to secure key green technologies first and gain an early lead in future green markets.”
He added, “I believe South Korea’s innovative DNA will once again prove its strength during the green transformation.”
The public briefing was held under the slogan “Beyond the Climate Crisis, Toward a Green Future: K-GX.” The government unveiled the K-GX strategy and the private sector’s investment plan, the “K-GX Signature Project,” and said it was determined to press ahead in earnest with Korean-style Green Transformation, one of the three visions of the “K-Initiative” presented at the United Nations General Assembly last month.
President Lee said, “As everyone knows, the climate crisis is no longer something in the distant future; it has become a reality before our eyes, immediately threatening humanity’s survival. This year, heat waves in Europe are said to have caused at least 35,000 additional deaths compared with a typical year. As we saw in the news, a disaster struck Nepal when glaciers collapsed.”
He continued, “In South Korea, too, Yangsan recorded a daytime high of 42.5 degrees Celsius, the highest ever observed, while Geoje saw torrential rain of 124.5 millimeters an hour. Extreme weather is threatening our daily lives.” He stressed, “A major transformation is needed so that responding to the climate crisis becomes a practical solution that grows industry and national competitiveness together, rather than forcing us to give up either the environment or growth.”
President Lee also said, “I hope we can work together to explore ways to actively use local industrial complexes and renewable energy to make the green transformation a new engine of regional growth.” He urged officials to “take special care to ensure that vulnerable sectors and groups in our society, including aging industrial complexes, vulnerable industries and low-income people, are not left behind in the green transition.”
In his welcoming remarks, KCCI Chairman Chey Tae-won said, “I believe the time has come for businesses to respond to the government’s support by carrying out investments totaling 220 trillion won, including the signature projects, without a hitch, and striving to demonstrate results on the ground. Businesses and KCCI will also take the lead together to make carbon neutrality an opportunity for new growth rather than a burden. The public and private sectors will work as one team to the end so that K-GX can change South Korea’s future.”
Attending the event were senior figures from the business and industrial sectors, including Lee Hyoung-il, Deputy Prime Minister and Minister of Finance and Economy; Kim Sung-hwan, Minister of Climate, Energy and Environment; and KCCI Chairman Chey Tae-won, as well as ministers from relevant ministries. Representatives of companies participating in the “K-GX Signature Project,” including Hanwha Qcells, POSCO Holdings, LG Electronics and Samsung Electronics Co., Ltd., also attended, along with experts who would propose ways to ensure the success and wider adoption of the green transformation.


[email protected] Choi Jong-geun Reporter