{"id":2203208,"date":"2023-12-25T16:00:03","date_gmt":"2023-12-25T07:00:03","guid":{"rendered":"https:\/\/koreapro.org\/?p=2203208"},"modified":"2023-12-26T19:26:47","modified_gmt":"2023-12-26T10:26:47","slug":"south-korea-grapples-with-how-to-balance-economic-growth-and-green-goals","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/12\/south-korea-grapples-with-how-to-balance-economic-growth-and-green-goals\/","title":{"rendered":"South Korea grapples with how to balance economic growth and green goals"},"content":{"rendered":"
South Korea\u2019s role in the global climate dialogue reflects its ongoing challenge to reconcile economic growth with environmental commitments, as it navigates the need to sustain its energy-intensive industrial base and the global push for more decisive climate action.<\/span><\/p>\n This balancing act has become even more relevant in light of the outcomes and discussions at the latest Conference of the Parties (COP28).<\/span><\/p>\n The summit, an intergovernmental conference on climate change, mirrored the familiar frustrations that characterized previous discussions, such as COP27 in Egypt and COP26 in Scotland. Notably, COP28\u2019s host nation was the United Arab Emirates (UAE) \u2014 a major oil-exporting nation \u2014 which brought additional scrutiny to the proceedings.<\/span><\/p>\n Despite the controversies surrounding the host nation, COP28 concluded with a collective agreement by member states to \u201c<\/span>transition away<\/span><\/a>\u201d from relying on fossil fuels. The International Energy Agency (IEA) <\/span>stressed<\/span><\/a> the importance of this agreement, advocating for its integration into future energy investments to ensure substantive impact.<\/span><\/p>\n In stark contrast to these global pledges, Sultan Ahmed Al Jaber \u2014 the president of COP28 and the head of Abu Dhabi National Oil Company (ADNOC), the UAE\u2019s national oil and gas company \u2014 asserted a divergent viewpoint. He <\/span>affirmed<\/span><\/a> that ADNOC would continue to invest in fossil fuel production, attributing nations\u2019 high demand as the driving factor behind energy source decisions.<\/span><\/p>\n While Al Jaber\u2019s stance is contentious, it parallels South Korea\u2019s situation. The ROK is a key supplier of equipment and technology essential for the transition to green energy, and its industrial capabilities and choices will have a significant impact on global energy supply and demand.<\/span><\/p>\n STRATEGIC BALANCING<\/b><\/p>\n South Korea\u2019s participation in the COP summits typically receives minimal media attention. This aligns with the ROK\u2019s calculated and understated approach to these global environmental discussions.\u00a0<\/span><\/p>\n During COP28, rather than elaborating on its <\/span>overall stance<\/span><\/a> on addressing climate change, South Korea chose to focus on a specific initiative: the launch of the <\/span>Carbon Free Alliance<\/span><\/a> (CFA).<\/span><\/p>\n The CFA advocates using natural gas (LPG) and hydrogen energy to decarbonize supply chains through public-private partnerships, and South Korea seeks to extend this effort to other developing economies.<\/span><\/p>\n The rationale behind the CFA is that renewable energy sources alone cannot meet South Korea\u2019s industrial power demands, thus requiring the integration of additional low-carbon or carbon-free energy sources.<\/span><\/p>\n This stance has faced criticism for potentially <\/span>obscuring the extent<\/span><\/a> of South Korea\u2019s reliance on fossil fuels, but the CFA is still <\/span>influential<\/span><\/a> in shaping climate policy, backed by some of the ROK\u2019s<\/span> largest conglomerates<\/span><\/a> and state-run utilities.<\/span><\/p>\n