[Featured Stock] Unison to Promote 'Green New Deal Special Act'... Expecting 300 Trillion Investment by 2030

Published 26 Jun.2020 11:50(KST)

Updated 12 Jan.2021 06:07(KST)

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[Asia Economy Reporter Hyungsoo Park] Unison is showing strong performance. It appears that the news of the government accelerating policies to promote the Green New Deal has influenced the stock price.

As of 11:49 AM on the 26th, Unison is trading at 1,655 KRW, up 4.42% from the previous day.

The ruling party and government are pushing for a separate special law to ensure long-term large-scale fiscal investment in the Green New Deal. Through this, they plan to invest a total of 300 trillion KRW by 2030.

An economic newspaper reported that the Democratic Party of Korea is reviewing a draft Green New Deal Special Act (tentative name) aimed to be proposed next month. Discussions are reportedly centered around the Korean-style Green New Deal Task Force under the COVID-19 National Crisis Response Committee and the Green New Deal research group.

This is interpreted as a measure to strengthen the momentum of the Green New Deal and establish a basis for funding. The special law is expected to focus on phasing out coal power and internal combustion engines, reducing nuclear power linked to nuclear waste disposal, and mandating energy efficiency.

The Green New Deal Special Act and the government's Korean New Deal comprehensive plan require large-scale fiscal resources. Within the Democratic Party, there is consideration of investing a total of 300 trillion KRW by 2030, including 100 trillion KRW from the public sector and 200 trillion KRW from the private sector. It is expected that 40 trillion KRW will be raised through transportation, energy, and environment taxes, and 60 trillion KRW through public pension funds such as the National Pension Service, securing 100 trillion KRW in public funds.