17.4 Strategic Planning to Improve South Korea’s Bioeconomy
Sustainable Development of Green Economy
South Korea’s Green New Deal plan was born as a response to COVID-19, setting it apart from similar initiatives in Europe and the US. What makes it different is that it doesn’t just tackle climate issues; it also aims to fight social inequality and poverty. This lines up with strategies in the EU and the US, and it’s not just a move from the political left. It got added to Korea’s plans pretty late on, showing a clear effort to follow the global trend toward green policies. This Green New Deal focuses on three main things and has eight specific goals. The government plans to invest a total of 73.4 trillion KRW, with 42.7 trillion coming from the government’s funds, creating around 659,000 jobs. They’ll get the money for these projects from both public and private sources. The first area is about making infrastructure more eco-friendly, with about 30.1 trillion KRW set aside, a chunk of it from the government. They aim to finish this by 2025, making around 387,000 jobs. The plan includes using renewable energy and better insulation in public buildings to save energy. They also want to check out how cities are dealing with climate issues and try to fix those problems. Smart technology like AI will help upgrade the water supply system. The second area is all about using cleaner and more local energy sources. They’re putting in about 35.8 trillion KRW, with a good portion from the government. This should be done by 2025 and create around 209,000 jobs. They want to set up a smart energy grid, push for more renewable energy, and help switch to electric or hydrogen vehicles. They’re also working on making old vehicles and ships less polluting. The third part is about boosting innovation in eco-friendly businesses. They’re investing about 7.6 trillion KRW, mostly from the government, to make around 63,000 jobs by 2025. They want to support businesses that are focused on being eco-friendly and set up areas for these green industries to grow. They’re also offering loans to green businesses and creating a joint fund with both public and private money to support green companies. (Korean New Deal. July 2020).
Specific Projects
The government has pinpointed 10 specific projects for the Korean New Deal, and five of these projects are linked to the Green New Deal.
Green Remodeling
To boost energy efficiency in buildings, the Green New Deal gives priority to making public buildings more energy-efficient. This means fitting solar power systems and using more eco-friendly insulation materials. Over the next 15 years, the government plans to set up solar power in public rental housing (about 225,000 units), daycare centers, health centers, and medical facilities. They’ll also bring in better insulation materials. New national and public daycare centers (around 440) and national sports centers (about 51) will be built with a focus on using energy-efficient equipment and eco-friendly materials. Plus, they’re aiming for a big energy makeover in places like museums, libraries, and government buildings, installing stuff like solar power systems and LED lighting to cut down on energy use.
Green Energy
The Green New Deal aims to boost new and renewable energy industries like solar and wind power. They’re planning a big expansion in research, development, and infrastructure to make this happen—both on land and at sea. Right now, they’re generating about 12.7 GW of renewable power, and they want to ramp it up to 42.7 GW by 2025. For wind power, they’re scoping out around 13 potential areas to see if they’re good spots for big offshore wind farms. They’ll start building small-scale versions to test things out. With solar power, they’re thinking about involving residents more and expanding support in loans for rural and industrial areas. They’re also planning to help out about 200,000 households by setting them up with new renewable energy gear for their homes and even in places like shopping malls. Another big part of the plan is all about hydrogen. They’re focusing on developing the technology for the whole hydrogen cycle—from making it to using it. They’re aiming to create “hydrogen cities,” with three of these cities set up by 2022 and three more by 2025.
Ecofriendly Mobility of the Future
The Green New Deal has big plans for electric vehicles (EVs). They’re aiming to boost the number from 90,100 in 2020 to a whopping 1.13 million EVs by a certain time. To support this, they’re planning to set up more charging spots: about 15,000 quick chargers and 30,000 slower ones by 2025. But it’s not just EVs—they’re also looking at hydrogen-powered vehicles. The plan is to introduce around 200,000 of these, including cars, buses, and cargo vehicles, and set up 450 places to charge them. They’re even working on a base to distribute hydrogen. The Green New Deal also wants to do something about older diesel vehicles. They’re thinking of turning them into liquefied petroleum gas (LPG) or electric ones. They’re also looking into replacing and upgrading about 34 civilian and government ships to be fueled by liquefied natural gas (LNG) or a mix of fuels. And they’re not stopping there—they’re planning to fit about 80 other government ships with devices to cut down on their emissions, like Diesel Particulate Filters.
Green and Smart Schools
To create environmentally-friendly classrooms, energy-saving facilities will be implemented, and technology-based educational materials will be used to provide a blended learning environment that combines online and offline methods. The Green New Deal seeks to enhance the energy efficiency of old school buildings, including at least 2,890 elementary, middle, and high school buildings, by incorporating solar panels and eco-friendly insulation. Furthermore, a plan to achieve full Wi-Fi coverage in 380,000 classrooms by 2024 will be expedited, with completion anticipated by 2022.
Smart and Green Industrial Complexes
The Green New Deal has big plans for industrial areas—they want to turn them into smart and eco-friendly spaces. These places would use digital technology to work better (that’s the “smart” part), be really good with energy (that’s the “green” bit), and keep pollution low. To make this happen, they’re thinking of setting up centers where they can test how things are made in three different spots. They’re also planning to use AI and drones to keep an eye out for any dangerous chemicals. They want to build about 100 smart eco-friendly factories and set up systems to cut down on pollutants. They’re also looking at making platforms that’ll help keep an eye on how much energy is being used and made in about ten spots. Plus, they’re thinking of finding ways to use leftover heat and other stuff from making things. They’re also focusing on making about 1,750 factories cleaner by finding specific ways to cut down on pollution. They’re planning to connect these factories so they can share waste and recycle stuff, around 81 spots in total. They’re even thinking of turning the waste from one factory into stuff another factory can use. And they’re not forgetting about smaller places—they want to install gadgets to cut down on dust in about 9,000 smaller workplaces. (Lee, J.H. and Woo, J., 2020).
Statistical Data for the Green Economy Website In South Korea, a dedicated website has been meticulously designed and is actively managed to serve as a comprehensive resource for statistical data related to the Green Growth strategy. The primary aim of this website is to make relevant information readily accessible to the public. Notably, the website houses an extensive database encompassing Green Growth Indicators (GGIs) and Green Lifestyle Indicators (GLIs). Furthermore, it incorporates data pertaining to Sustainable Development Indicators (SDIs). To access these valuable resources, you can visit the website using the following web address: [http://green.kostat.go.kr](http://green.kostat.go.kr). As previously mentioned, South Korea’s Green Growth Indicators encompass a substantial collection of 30 time series data points. In the context of the Green Lifestyle Indicators database, there are 41 distinct indicators that offer insights into both household awareness and actions concerning green living, along with 13 indicators that gauge the performance of green lifestyles. For a more comprehensive understanding of the sustainable development landscape, the website offers access to Sustainable Development Indicators, featuring a rich repository of 77 indicators categorized into three distinct categories. In addition, the website provides Environment Performance Indexes, consisting of 22 time series data points. Notably, the composite index is calculated with the option for users to apply standardized weights or voluntary weights that can be customized via the website’s user-friendly interface. This level of control empowers users to tailor their analyses to suit their specific needs and preferences, making the website a valuable resource for a wide range of users (Min, K.S., 2013).