reviews emission reports annually, and emissions are verified by third parties. There
are plans to link to carbon markets in the European Union and China, in order to
improve cost efficiency and effectiveness, increase market liquidity, and promote
bilateral and multilateral cooperation. The second strategy is a carbon tax and the
development of a green information technology (IT) industry. Currently, the carbon
tax is not obligatory, but the government is considering carbon tax policy in
preparation for future carbon markets. Korean companies are currently focusing on
the development of new technologies and are implementing eco-campaigns with the
aim of reducing greenhouse gas emissions using new technologies. Green IT is one
such solution. The Ministry of Administration has set up a calculation center for
green energy conservation and is developing a comprehensive plan to promote
it. The final strategy is promotion and utilization of renewable energy. The eighth
power supply plan emphasized reducing dependence on coal-fired power. New
equipment is prohibited in principle. By 2022, ten old facilities (3.4 GW) will be
abolished. As of 2034, coal-fired power plants that have been in operation for more
than 30 years will be ceased. Besides, in the same year, it was announced that
dependence on nuclear power plants would be reduced and the focus moved to LNG
and renewable energy generation. In South Korea, nuclear power is the main power
source, accounting for 30% of total power generation; thus a move away from it will
be a “great change in energy policy.” By 2020, South Korea plans to build more than
10 GW of solar power generation facilities (EIA 2020).
In summary, four important trends have emerged in the three countries:
1. Green manufacturing has begun to replace traditional manufacturing.
2. Renewable energy and new energy sources are developing rapidly due to coal
phase-out plans.
3. Investment in environmental protection-related fields continues to increase.
4. Regional or national carbon markets are developing rapidly.
2.4.2 International Cooperation in Energy
and the Environment
The history of international environmental cooperation among China, Japan, and
South Korea is reviewed from 1999 to the present. Since 2008, the situation has
changed from unidirectional support to building strategic, mutually beneficial relationships. Cooperation must account for risks.
2.4.2.1 Cooperation Among China, Japan, and South Korea
in 1999–2008
Environmental cooperation in the East Asia region was promoted by the Tripartite
Environmental Ministers Meeting (TEMM) in Seoul in 1999 (Trilateral Cooperation
52
X. Qian et al.
are plans to link to carbon markets in the European Union and China, in order to
improve cost efficiency and effectiveness, increase market liquidity, and promote
bilateral and multilateral cooperation. The second strategy is a carbon tax and the
development of a green information technology (IT) industry. Currently, the carbon
tax is not obligatory, but the government is considering carbon tax policy in
preparation for future carbon markets. Korean companies are currently focusing on
the development of new technologies and are implementing eco-campaigns with the
aim of reducing greenhouse gas emissions using new technologies. Green IT is one
such solution. The Ministry of Administration has set up a calculation center for
green energy conservation and is developing a comprehensive plan to promote
it. The final strategy is promotion and utilization of renewable energy. The eighth
power supply plan emphasized reducing dependence on coal-fired power. New
equipment is prohibited in principle. By 2022, ten old facilities (3.4 GW) will be
abolished. As of 2034, coal-fired power plants that have been in operation for more
than 30 years will be ceased. Besides, in the same year, it was announced that
dependence on nuclear power plants would be reduced and the focus moved to LNG
and renewable energy generation. In South Korea, nuclear power is the main power
source, accounting for 30% of total power generation; thus a move away from it will
be a “great change in energy policy.” By 2020, South Korea plans to build more than
10 GW of solar power generation facilities (EIA 2020).
In summary, four important trends have emerged in the three countries:
1. Green manufacturing has begun to replace traditional manufacturing.
2. Renewable energy and new energy sources are developing rapidly due to coal
phase-out plans.
3. Investment in environmental protection-related fields continues to increase.
4. Regional or national carbon markets are developing rapidly.
2.4.2 International Cooperation in Energy
and the Environment
The history of international environmental cooperation among China, Japan, and
South Korea is reviewed from 1999 to the present. Since 2008, the situation has
changed from unidirectional support to building strategic, mutually beneficial relationships. Cooperation must account for risks.
2.4.2.1 Cooperation Among China, Japan, and South Korea
in 1999–2008
Environmental cooperation in the East Asia region was promoted by the Tripartite
Environmental Ministers Meeting (TEMM) in Seoul in 1999 (Trilateral Cooperation
52
X. Qian et al.