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Pursuing Carbon Neutrality in the Automotive Sector: Trends, Proposals, and Challenges

Author

Listed:
  • Kim, Kyoung You

    (Korea Institute for Industrial Economics and Trade)

  • Cho, Cheul

    (Korea Institute for Industrial Economics and Trade)

Abstract

Due to the large proportion of emissions which the transportation sector accounts for and the comparative ease with which emissions from this sector can be managed, key countries are tightening emissions regulations in the transportation sector. To this end, various proclamations have been made and many policies have been proposed. Korea has announced robust measures to achieve a carbon-neutral automotive sector by 2050. But carbon neutrality regulations put in place during the transition from ICE vehicles to electric-powered vehicles must consider Korea’s industrial competitiveness and the global market strategies of Korean companies. As Korea’s automotive sector relies heavily on foreign markets, carbon neutral strategies must track international trends. At the same time, the country needs to develop and pursue appropriate strategies that will minimize negative impacts to its domestic industries. This paper explores measures to accelerate growth in the industrial ecosystem of the electric-powered vehicle sector while also supporting a smooth transition to carbon neutrality.

Suggested Citation

  • Kim, Kyoung You & Cho, Cheul, 2021. "Pursuing Carbon Neutrality in the Automotive Sector: Trends, Proposals, and Challenges," i-KIET Issues and Analysis 21/17, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietia:2021_017
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    More about this item

    Keywords

    automotive industry; auto industry; exports; vehicle exports; carbon neutrality; climate change; emissions; electric vehicles; industrial structure; net zero; environmental policy; industrial policy; industrial strategy; export policy; export strategy; innovation; innovation policy;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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