South Korea Announces $747 Billion Energy Transition Plan Through 2035
- South Korea’s K-GX strategy mobilizes $747 billion through 2035, combining government spending and climate finance to accelerate the country’s energy transition.
- The government targets 100 GW of renewable energy capacity by 2030 and wants electric and hydrogen vehicles to exceed 70% of new vehicle sales by 2035.
- Five high-emitting sectors, including steel, cement and semiconductors, will face targeted decarbonization plans as Seoul responds to tighter global carbon rules.
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- South Korea’s K-GX strategy mobilizes $747 billion through 2035, combining government spending and climate finance to accelerate the country’s energy transition.
- The government targets 100 GW of renewable energy capacity by 2030 and wants electric and hydrogen vehicles to exceed 70% of new vehicle sales by 2035.
- Five high-emitting sectors, including steel, cement and semiconductors, will face targeted decarbonization plans as Seoul responds to tighter global carbon rules.
Sources: Esgnews