Korean Green Growth in a Global Context
Green growth was put into policy actions by the Korean government in January 2009. Having adopted “low carbon,
green growth” as the new national vision put forward by President Lee Myung-bak on the occasion of the
60th anniversary on 15 August 2008 of the founding of the Republic of Korea, the government announced the
Green New Deal on 6 January 2009. The Green New Deal adopted in the aftermath of the global financial crisis
of 2008 was an amalgam of a long-term policy of expanding growth potentiality through a green strategy and
a short-term policy of creating jobs and revitalizing the economy through fiscal stimulus. A total budget of 50
trillion won (approximately $40 billion) was allocated for the period 2009–12, and 960,000 jobs were estimated
to be created in consequence.