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

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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)

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.

Suggested Citation

  • Jae-Hyup Lee & Jisuk Woo, 2020. "Green New Deal Policy of South Korea: Policy Innovation for a Sustainability Transition," Sustainability, MDPI, vol. 12(23), pages 1-17, December.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:23:p:10191-:d:457723
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    References listed on IDEAS

    as
    1. Armand Kasztelan, 2017. "Green Growth, Green Economy and Sustainable Development: Terminological and Relational Discourse," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(4), pages 487-499.
    2. repec:prg:jnlpep:v:preprint:id:626:p:1-14 is not listed on IDEAS
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