As Korea goes green, what can Australia learn?

The Fifth Estate recently interviewed Dr Sung-Young Kim, a senior lecturer in International Relations at Macquarie University, on the Korean New Deal – Korea’s green economic recovery strategy.

The ₩160 trillion (A$186.7 billion) Korean New Deal aims to create 1.9 million jobs through projects such as developing 230,000 energy saving buildings and producing 1.13 million electric cars by 2025.

Dr Kim says that the Korean New Deal is “about the government singling to the market it believes green tech is the future and is a job creating mechanism.

“It’s about securing national competitiveness. And it’s about stabilising new industries to lift the country out of the COVID-19 crisis.”

Dr Kim sees the potential for Australia to adopt a similar strategy of nurturing green industries to “build a manufacturing base in Australia,” underpinned by a national plan to encourage the private sector to drive greener, technology projects.

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Australia Korea Business Council
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Liz Griffin – Executive Director

The Australia-Korea Business Council is the leading national body committed to strengthening the Australia-Korea economic relationship.