Seoul to invest 1,000 tln won in carbon neutrality, sustainable growth

What happened: South Korea's climate ministry announced the Korea-Green Transformation (K-GX) initiative, a 10-year plan to reach carbon neutrality and sustainable growth by 2035, with government and private investment. Key numbers: 1,000 trillion won (US$745 billion) public investment; 220 trillion Why it matters: The plan targets low-carbon processes in steel, petrochemicals, cement, semiconductors, displays and refining, and includes tax incentives and eased regulations. Samsung Electronics, LG Electronics, POSCO Holdings and Hanwha Qcells presented renewable and decarbonization plans.

South Korea's climate ministry announced the Korea-Green Transformation (K-GX) initiative, a 10-year plan to reach carbon neutrality and sustainable growth by 2035, with government and private investment.

The plan targets low-carbon processes in steel, petrochemicals, cement, semiconductors, displays and refining, and includes tax incentives and eased regulations. Samsung Electronics, LG Electronics, POSCO Holdings and Hanwha Qcells presented renewable and decarbonization plans.