South these ambitious goals, the government issued a

South Korea is country which has been able
to transform itself from one of the poorest country to one of the most industrialized
country of the world, from a developing country to a developed country. Its economic
and social progress over years is truly admirable.

This
period of economic growth in Korea is also known as the Miracle on the Han
River. South Korea’s highly accelerated export-fuelled economic growth,
including rapid industrialisation, technological achievement, and exponential
rise in living standards. ┬áSouth Korea’s
GDP is currently ranked 15th in the World. It also has a very high Human
Development Index (HDI) of 0.897, which is used as the common measure of the
Quality of life in the World. As a consequence of its accelerated economic
growth, however, South Korea’s emissions almost doubled between 1990 and 2005.

In
August 2008, on South Korea’s 60th anniversary, its president declared “Low
Carbon Green Growth” as a new vision to lead the country’s development over the
next 60 years.

Its decision
to start the Green Growth policy can be seen as an instrumental approach to
drive economic growth including the newly emerged sustainability paradigm.
Through the Green Growth policy, South Korea aims to become a global leader
among low carbon societies. It also aims to become the 7th Green World Power in
2020, and the 5th by 2050. To achieve these ambitious goals, the government
issued a Framework Act on Low Carbon Green Growth in 2009. The legal document
defines the milestones of the National Green Growth Strategy, which mainly
includes three objectives and ten policy directions. Since South Korea imports
approximately 96% of its primary energy sources, their first objective is to
improve energy independence and climate change mitigation. Their second
objective is to create new drivers for economic growth such as the development
of green technologies and the promotion of the industry’s green structure.
Their last objective intends to introduce a green lifestyle, and green transport
infrastructure, as well as sustainable land and water use