South Korea was ranked as the fifth-largest emitter of greenhouse gasses among the OECD member countries in 2018,… emitting more than 727 million tons.
To get close to zero tons by 2050,South Korea has unveiled its heightened nationally-determined contribution plans, and its targets for greenhouse gas emission reductions by 2030.
The government also came up with two different scenarios for different industries to reach carbon neutrality by 2050.
"The electric heat production sector that emits the largest amount of greenhouse gasses will revolve around renewable energy. Under Scenario A, all fossil fuel plants will be suspended and Scenario B would be geared towards utilizing liquefied natural gas development. For this we need to push for carbon neutrality utilizing a private market system as well."
The government plans to significantly reduce greenhouse gas emissions for specific industries, including steel and petrochemicals.
From a combined 260 million tons emitted in 2018, its goal is to reduce greenhouse gas emissions by 14.5 percent in 2030 and by 80 percent to 51 million tons in 2050.
For the steel industry, the government plans to reduce emissions by 95 percent by implementing future technologies.
The government also plans to reduce 73 percent of the gas emitted by the petrochemical industry by changing the nation's fueling system and production structure.
Semiconductor and display industries have a planned reduction of 78 percent by improving energy efficiency.
The government also plans to reduce up to 97 percent in the transport sector.
To do so, it will expand the supply of eco-friendly vehicles to 4.5 million by 2030 and have up to 97 percent of all vehicles in the country be either electric or hydrogen by 2050.
The government also plans to cut greenhouse gas emissions in other ways such as constructing energy efficient buildings and houses and by improving farming methods.
However, the plan has been criticized by some industry officials who say the plan doesn’t consider the financial impact on firms to make the necessary changes
They also say that slashing carbon emissions would diminish South Korea's competitive edge as a large proportion of the country's economy revolves around manufacturing.
Eum Ji-young, Arirang News.