The government on Jan. 28 held a launch ceremony at the Korea Chamber of Commerce and Industry for a joint public-private K-GX task force to establish “K-GX (green transition)”, together with related ministries and major industry associations and groups.

The task force was formed to lead policy discussions and promote public-private cooperation in the process of formulating a K-GX strategy aimed at using efforts to meet the “2035 national greenhouse gas reduction target (NDC)” as an opportunity for economic growth.

At the ceremony, participants shared the direction for establishing the K-GX strategy and the task force’s operating plan, and focused discussions on effective ways to turn proposals from a private-sector consultative body into policy tasks.

To ensure implementation of the 2035 national greenhouse gas reduction target, the government presented green transition directions in key areas including expanding renewable energy, demonstrating hydrogen-based steelmaking, a breakthrough rollout of hydrogen and electric vehicles, electrifying thermal energy, converting livestock manure into energy, and revitalising the forestry industry.

It also announced a package of support measures, including technology development, certification and standards, financial and tax support, and deregulation, as well as plans to deliver a just transition.

The Korea Chamber of Commerce and Industry, which presented proposals from the private-sector consultative body, stressed that the K-GX strategy is an important national task, citing that 72 percent of its member companies recognise the need for a Korean-style GX policy. It requested the creation of conditions that enable industry to view carbon neutrality as an opportunity and invest continuously.

Koo Yun-cheol (구윤철), deputy prime minister for the economy and minister of the Ministry of Finance and Economy, said in opening remarks, “I will fully support it with strong determination so that the K-GX strategy becomes the future source of national competitiveness and an engine for a great economic leap forward.” He added, “I will lay the groundwork so that all citizens can actively participate in GX, and I will support GX becoming a core driver of regional growth together with regional industries.”

Kim Sung-hwan (김성환), minister of the Ministry of Climate, Energy and Environment, said in opening remarks, “I will fully back a major transition toward decarbonised, growth-oriented development in our economy by mobilising all available policy instruments, including technology development, fiscal measures, finance and taxation.”

The government said it will gather industry proposals through operation of the task force and announce the K-GX strategy in the first half of this year. It also plans to set up a dedicated department within the climate ministry to support the strategy’s formulation and implementation.