Seoul, Dec 1 (DPA) South Korea said ahead of this month’s climate summit in Copenhagen that it faces challenges in meeting its proposed emission target.
Economy Minister Choi Kyung Hwan confirmed Seoul’s target of reducing emission of greenhouse gases by 30 percent of the 2020 business-as-usual levels.
Given the energy-intensive nature of South Korea’s export industry, the 30 percent target, might well sound like a dream, Choi said at a press briefing Tuesday.
“Considering our economic stage, we are heading towards an uncharted green path that no one else has ever trodden. About 40 percent of our total energy is consumed by energy-intensive export sectors like steel or petrochemicals,” he said.
South Korea’s promise to cut overall emissions triggered fears by exporters of dulling their competitive edge. Exports account for 70 percent of the South Asian country’s gross domestic product.
“For instance, our petrochemicals would see a 10 percent drop in production if the emission goals are implemented,” he said.
Despite the opposition and possible negative economic effects, he said Seoul was determined to persuade its industries to become greener, in an attempt to play a bridging role between the West and developing countries, he said.
