Green New Deal Policy of South Korea: Policy Innovation for a Sustainability Transition

Jae-Hyup Lee and Jisuk Woo
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Jae-Hyup Lee: Seoul National University School of Law, Seoul 08826, Korea
Jisuk Woo: Graduate School of Public Administration, Seoul National University, Seoul 08826, Korea

Sustainability, 2020, vol. 12, issue 23, 1-17

Abstract: This paper explores the recently announced “Green New Deal” policy of South Korea as a sustainability transition strategy. Originally proposed as a post-COVID-19 stimulus plan, the Green New Deal is a sustainability-centered strategy for building a low-carbon and climate-neutral economy. The Green New Deal sets out eight targets to be accomplished under three strategic areas: green urban development, low-carbon decentralized energy, and innovative green industry. The Deal also takes measures to protect the people and sectors at a higher risk of being left behind in the process of the economic transition. It is an upgraded version of the “Green Growth” national policy, with more emphasis on sustainability in addition to the growth aspect. This paper will examine the accomplishments and challenges during the Green Growth policy era and argue why the transition to the new Green New Deal is necessary for a sustainability transition.

Keywords: energy policy; Korea; Green New Deal; sustainability; climate change; sustainable development; green growth; carbon neutrality; renewable energy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:23:p:10191-:d:457723

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