South Korea
SOUTH KOREA JOINS CHINA AND JAPAN IN PLEDGE TO ACHIEVE CARBON NEUTRALITY
11/02/2020
Update Volume
50
Update Issue
32

On October 28, in an address to the National Assembly, South Korean President Moon Jae-in announced that South Korea will be carbon-neutral by 2050. The announcement comes just two days after Japan’s declaration of the same goal and just over a month following China’s promise to achieve carbon neutrality by 2060 (Financial Times).

SOUTH KOREA PROPOSES SUPPLEMENTAL BUDGET TO FIGHT AIR POLLUTION
04/29/2019
Update Volume
49
Update Issue
12

On April 24, South Korea announced a $5.87 billion supplemental budget to fight unprecedented air pollution levels and boost exports. The budget includes subsidies for replacing old diesel-powered cars, buying air purifiers, and encouraging renewable energy technologies. It also proposes increasing export credit financing and creating jobs. For the full story, see https://uk.reuters.com/article/us-southkorea-economy-budget/south-korea….

SOUTH KOREA TO TEMPORARILY SUSPEND OLDER COAL-FIRED POWER PLANTS
03/04/2019
Update Volume
49
Update Issue
7

On February 28, South Korea's energy ministry announced plans to suspend operations at four of its older coal-fired power plants from March to June in an effort to reduce air pollution. The ministry also plans to cap electricity output from other plants when air pollution levels are high and expand the use of low-sulfur coal. Coal power accounts for roughly 40% of South Korea's electricity. For the full story, see https://uk.reuters.com/article/us-southkorea-coal/south-korea-plans-tem….

MORE COUNTRIES TAKE LEGAL ACTION ON VOLKSWAGEN’S DIESEL SCANDAL
12/12/2016
Update Volume
46
Update Issue
35

Last week, both South Korea and the European Union noted they would be taking legal action in responses to “dieselgate,” the nickname given to the scandal on Volkswagen vehicles' nitrous oxide emissions. Last year, it was discovered that Volkswagen had intentionally misreported the amount of nitrous oxides that their cars emit outside of the laboratory. South Korea intends to file criminal charges against Volkswagen executives in the South Korean unit for falsely advertising their vehicles' emissions.

CANADA TO EXPORT URANIUM FOR INDIA NUCLEAR
11/12/2012
Update Issue
32

India and Canada finalized the terms of their nuclear deal, allowing Canadian firms to sell uranium to India. A 1976 ban on the trade of nuclear materials with India, enacted after the nation used Canadian nuclear technology to build its first atomic bomb in 1974, previously halted the trade of Canada's large uranium resources, but India won an exemption in 2008 from the Nuclear Suppliers Group to trade nuclear supplies and technology despite not signing the nuclear Non-Proliferation Treaty.

CHINA PROBES EU SOLAR PRODUCTS
11/05/2012
Update Volume
42
Update Issue
31

China will launch an anti-dumping and anti-subsidy investigation into European Union solar manufacturing products, the Commerce Ministry said last week. The investigation will determine whether manufacturers are selling materials such as polysilicon, used to make panels, below cost. The investigation will also probe whether manufacturers received illegal subsidies. In September, the EU threatened to impose tariffs on Chinese solar panels after investigating claims by Germany, Italy, and other EU member states that dumping by China had caused prices to fall by as much as 75 percent.

CHINA AND KOREA INCREASE NUCLEAR; JAPAN CLOSES REACTOR
05/21/2012
Update Volume
42
Update Issue
15

China's state council will likely hold a meeting before the end of June to approve plans for the nuclear industry, according to Xu Yuming, the vice secretary general of the China Nuclear Energy Association. The nation is currently building at least 27 reactors and has 50 more planned, according to the China Nuclear Energy Association.

SOUTH KOREA APPROVES GHG TRADING SCHEME
05/07/2012
Update Volume
42
Update Issue
13

South Korea became the latest nation to approve a climate trading scheme last Wednesday as lawmakers agreed to cap greenhouse gas emissions. The scheme places a cap on emissions from industry, generators, and even large universities, encouraging a move toward energy efficiency. The measure may lead to savings, as South Korea is the fifth largest importer of oil and the second largest importer of liquefied natural gas. Under the plan, firms can trade emissions permits or buy offsets from U.N. backed energy projects.