Korea's Green transformation: Leveraging new trade opportunities
How will Korea’s clean energy agenda open opportunities for trade and collaboration with Australia? In what ways can we learn from each other’s example?
On June 21, 2022 in Melbourne, a panel of experts facilitated by The Asia Society discussed the new possibilities for economic engagement with South Korea particularly relative to resources and energy.
Australia-Korea Business Council Executive Director Liz Griffin moderated the discussion. Participants include:
- Elizabeth Thurbon, Asia Society Australia-Korea fellow and Scientia associate professor of international political economy at UNSW Sydney;
- James Choi, managing director of J2 Advisory;
- John Hirjee, head of research and analysis, Resources, Energy & Infrastructure at ANZ; and
- Dr. Fiona Simon, chief executive officer of the Australia Hydrogen Council.
In 2021, President Moon Jae-In announced an ambitious climate and energy agenda which he dubbed as Korea’s ‘Green New Deal’. Involving a US$144 billion investment, Moon outlined a whole of government approach to achieving net-zero by 2050. And despite a recent change in government, Korea has undoubtedly chosen to embark on a substantial transformation of its economy which has been historically dominated by coal and ‘brown energies’.
The Australian Government has also pledged to achieve Net-Zero by 2050 and has a lot to gain from collaborating with Korea, whose green policies have been driven not only by government planning but by extensive public-private cooperation, using market forces to fast-track its goals.
How do we harness the current decarbonisation agenda to work toward this new green future?
