According to ministry officials, the target was originally set in 2011 by former administration president Lee Myung-bak. The new document features more detailed reduction policies and measures for seven different sectors. The plan is expected to generate about 3000 jobs through to 2020.
The reduction aims are:
- 18.5% for industry
- 26.7% for energy conversion and generation
- 26.9% for the building sector
- 34.3% for transportation and
- 25% for the public sector.
- 12.3% for waste management and agriculture
- 5.2% for fishery sector
Korea is the ninth-highest producer of carbon emissions and reported an increase in gas emissions in 2010, the largest increase in 17 years. With environmental authorities planning to cut greenhouse gas emissions by 5.1 per cent to 65.9 billion CO2 equivalent tonnes, it is imperative that these targets are adhered to. Korea are enforcing an emission cap, those exceeding the cap will be fined while those emitting less will be able to carry the difference through to the next month.