Simultaneous Overcoming of Economic and Climate Crises with the 'Seoul Version Green New Deal'... 2.6 Trillion Won Invested

Aged Public Buildings to Undergo Green Remodeling... Only Electric and Hydrogen Vehicles Allowed for Registration from 2035

Seoul Mayor Park Won-soon is delivering the keynote speech at the launch ceremony of the Carbon Neutral Local Government Action Alliance held at COEX in Gangnam-gu, Seoul, on the 7th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Jo In-kyung] The Seoul Metropolitan Government plans to invest 2.6 trillion KRW by 2022 to vigorously promote a 'Green New Deal.' The strategy focuses on five major sectors: buildings, transportation, urban forests, renewable energy, and resource circulation, aiming to address economic and climate crises while creating a livable, sustainable city where people, nature, and the future coexist.

On the 8th, Mayor Park Won-soon held a press briefing at Seoul City Hall and announced the 'Seoul-style Green New Deal,' centered on initiatives such as 'transitioning to low-carbon zero-energy buildings' and 'switching to electric and hydrogen vehicles.'

The city will intensify efforts to transform all buildings into energy-efficient 'green buildings,' targeting the 'building sector,' which accounts for 68.2% of greenhouse gas emissions. It will invest 240 billion KRW in remodeling aging public buildings to improve energy efficiency and allocate a total of 1.1082 trillion KRW to expand the mandatory 'Zero Energy Building (ZEB)' standard from public to private buildings starting in 2023.

By 2025, more than half of all city buses (4,000 out of 7,396) will be converted to electric and hydrogen vehicles. For taxis, the city aims to mandate eco-friendly vehicle replacements starting from 2030, supported by expanded subsidies and extended vehicle age limits. The allocated budget for these initiatives is approximately 1.1199 trillion KRW.

Recognizing the importance not only of reducing greenhouse gas emissions but also of absorbing emitted gases, the city will focus on expanding forests and parks. Approximately 850,000 square meters of climate change response urban forests will be newly created around the Han River embankments and cautious pedestrian paths. Additionally, overseas afforestation projects will continue to combat desertification in Northeast Asia, including Mongolia.

Furthermore, solar power facilities will be installed in public infrastructures such as water and sewage systems and urban rail facilities. Through a 'circular economy' approach that recycles generated waste, the city aims to achieve zero direct landfill of household waste by 2025. Seoul plans to revitalize the Green New Deal industry during this process, creating a total of 26,000 jobs by 2022.

Mayor Park stated, "At the crossroads of the post-COVID era, we will fully embark on a major transition to a decarbonized economy and society for ourselves, the Earth, and human survival. Over the past eight years, we have built the capacity to move toward sustainability; now, through revolutionary changes that completely transform our system, we will present a global standard model for the Green New Deal."

This content was produced with the assistance of AI translation services.