Green Growth Policy in the Republic of Korea: Its Promise and Pitfalls

This p.lpcr aims 10 cxamine thc promisc and pitfalts of gnen growth p이icy in thc Republicof Korea, lnd 10 uncovcr their implκatio’‘ on thc d gn and implemcntation of successful policy in this area Since Prcsident Lee Myung-bak dedarcd a Low Carbon, Green Grow‘h strategy in 2αJ8 asaguνd ing visioll for thc nation s long lenn de‘ clopm gro、vth has bccomc an important pilrt of thncw Ililtionll dcvelopment paradigm. The governmenl has cxpended massivc amounl of capital in this spherc, and cxpet iS ils investmenl \0 gαlNatc wea1thnd l1-being, incrcase employment, and reduce povcrty and inequality. Howevcr, critics argue that gTff 1l growth polκY is just another name for thc type of economic growth that w‘as pursued in the 1970s and 1980s. Accordìng to thcse critκ5. grecn growth policy fo。이:;es maìnly on ecQnomicgw ‘ hand ncg!ects 10 grecn sociely. Further, they argue th i11 growth policy is oriented 10 big S S and cenlra! govern ment, and is thus inherently contradi。ry 10 thc aim of sustaini1bJc dcvclopmcnt whic 、is 10 extend pilrtidpation and invoJvemαl hy gocn1mcnts, local businf..>sse5, and local n‘~ident‘ This paper vìcws grccn growth as i1 11 intcrmediatc Kpt thrugh which sutama비c dev‘ lopmcl1t can achicvcd. 011 thc this conccpt of grcèl1 growth, it scnJtini 7. S both thc pros and thc cons of growth policy， and discusses thc poli ’ Psib lc pitfalls. 1I thcll ml1kes suti‘ for 11 sucessful grecll gro‘vth policy