In December 2021, the South Korean government submitted a target to reduce 40% of national GHG emissions by 2030 compared to 2018 levels as part of its Nationally Determined Contribution, after officially committing to it at COP26. The target is more ambitious than South Korea’s previous 26.3% emissions reduction target, and was legislated under the Neutrality and Green Growth Framework Act.
The proposed increase in the target was first announced in August 2021, with the government making an official domestic announcement of the target in October 2021. Following this announcement, the government held a series of online forums and meetings with stakeholders including industry, labour, civil society, youth groups etc.
In response to industry requests, the new government under President Yoon Sok-yeol announced in May 2022 that it would reconsider the 2030 target. In July 2022, the government announced that it would keep the 2030 target, but would revise implementation plans to reflect a “realistic carbon neutrality."
In a March 13th article by Chosun Ilbo, the Korea Petrochemical Industry Association (KPIA) appeared unsupportive of the South Korean Government's 2030 Greenhouse Gas (GHG) Emissions Reduction Target, arguing that it would be “impossible to reduce GHG emissions by 20%” while increasing ethylene production.
In a November 7th press release published the day after COP27 started, the Federation of Korean Industries (FKI) appeared to advocate for a ‘re-examination’ of South Korea’s more ambitious 2030 NDC emissions reduction target, which was submitted to COP26 in November 2021. FKI referred to the results of a survey it commissioned among the top 500 manufacturing companies of Korea, in which 48% of respondents said that the feasibility of achieving the 2030 NDC would be ‘low’ or ‘very low’, and 82% of respondents advocated that ‘a re-examination is necessary’.
In a November 7th press release, Federation of Korean Industries (FKI) advocated for a ‘realistic energy mix policy’ that increases the proportion of nuclear energy in South Korea’s energy mix, stressing concerns over the possibility of achieving the country’s 2030 coal phase-down target and the renewable energy increase target.
In a March 13th article by Chosun Ilbo, the Korea Semiconductor Industry Association (KSIA) appeared to express opposition to the South Korean Government's 2030 National Greenhouse Gas Reduction Target, saying that it would be hard for the Korean semiconductor industry to survive if “the cost burden increases” in the face of fierce price competition with foreign companies.
At the ‘Evaluation of the 2050 Carbon Neutrality target and check the role and progress of carbon reduction R&D’ Forum held in the National Assembly Members’ Building on September 22nd, the Vice President of KPIA, Song Yoo-jong, appeared to not support the increased ambition of the 2030 NDC of Korea, stating “it is made based on an ideal justification rather than a realistic analysis” and that the target would not be achieved without “economic recession” such as “production stop”.
9월 22일, 국회의원 회관에서 열린 ‘2050 탄소중립 목표에 대한 평가 및 탄소 감축 R&D의 역할과 추진현황 점검’ 포럼에서, 송유종 한국석유화학협회 부회장은 2030 국가 온실가스 감축목표 상향을 지지하지 않는 것으로 나타났습니다. 그는 감축목표가 “냉정한 분석보다는 이상적 당위에 의하여 이루어진” 것이고, “생산 중단”과 같은 “경제 후퇴”가 없이는 목표를 달성할 수 없다고 말했습니다.
| Influencemap Performance Band | Organization | Engagement Intensity | ||
|---|---|---|---|---|
| C- | SK E&S | 11 | Energy | Asia |
| D+ | Korea Electric Power Corporation (KEPCO) | 27 | Utilities | Asia |
| C+ | LG Chem | 20 | Chemicals | Asia |
| C- | SK Hynix | 8 | Information Technology | Asia |
| D | SK Inc. | 15 | All Sectors | Asia |
| D+ | POSCO | 25 | Metals & Mining | Asia |
| D+ | Lotte Chemical | 8 | Chemicals | Asia |
| D+ | Samsung Electronics | 11 | Information Technology | Asia |
| D+ | SK Innovation Co | 9 | Energy | Asia |
