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S. Korea, EU to cooperate on fighting climate change

All News 17:00 July 06, 2021

By Kang Yoon-seung

SEJONG, July 6 (Yonhap) -- South Korea and the European Union on Tuesday agreed to work together against climate change in line with their shared target to achieve zero net emissions of carbon by 2050.

Industry Minister Moon Sung-wook met Frans Timmermans, who serves as the executive vice president for the European Green Deal, in Seoul to share ideas on ways to cooperate in coping with climate change, according to the Ministry of Trade, Industry and Energy.

It was the first time for a high-ranking European climate official to visit the country since the COVID-19 pandemic outbreak.

During the meeting, Moon provided the latest updates on South Korea's environmental policies, including its goal to go carbon neutral by 2050.

S. Korea, EU to cooperate on fighting climate change - 1

Moon added South Korea plans to come up with detailed action plans within this year for different industrial sectors.

Timmermans said the world's single largest economic bloc plans to achieve carbon neutrality by 2050 as well, adding it has launched the so-called European Green Deal, which aims to establish a clean and sustainable economy.

Seoul earlier launched a set of New Deal projects as well, which intends to foster the nation's future growth by promoting digital innovation, green industries and balanced regional development.

Moon added South Korea and Europe should establish a new consultative body to promote the use of hydrogen.

Timmermans, meanwhile, also shared other carbon-related policies in the EU, including the anticipated carbon border adjustment mechanism (CBAM), which centers on levying "carbon price" on imports of certain products into the bloc.

Moon, however, said the new policy should not emerge as a new barrier for global trade and suggested that it should be designed within the rules of the World Trade Organization (WTO).


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