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Title	Welcoming speech on the occasion of OECD Workshop on Delivering Green Growth (March 4, 2010)
Date	2010/07/02	Hits	393
File	Welcoming speech on the occasion of OECD Workshop on Delivering Green Growth .doc(30 KB)
Welcoming speech on the occasion of OECD Workshop on Delivering Green Growth by Vice Minister Rim Chaemin March 4, 2010 Seoul, Korea Chairman Kim, Deputy Secretary-General Mario Amano. Esteemed quests, ladies and gentlemen, I am very honored to welcome all of you as we examine the consequences that green growth will have on the economy, the industry and on our very future. I expect the workshop will spark stimulating dialogue on green economy among our many distinguished participants. May I also take this opportunity to applaud the active leadership shown by the OECD in advancing the green agenda with the MCM Declaration—a dialogue to create new value, new jobs and a new direction for industries. The gravity of climate change weighs heavily on all our minds but how do we reconcile the issue of growth versus sustainability? How do we protect the environment while, at the same time, struggle with practical matters such as finding new growth engines and creating jobs appropriate for the new world economy? How do we build on technological innovation? These are pressing questions for many governments and companies. It is quite a challenge for me, as I am in charge of keeping the engine of the Korean economy running smoothly. I am also faced with the daunting task of finding how to do it in a sustainable and viable way. For years Korea focused on one thing—to find the shortest, quickest route from “point A to point B”—which resulted in remarkable development in a relatively short period of time. We have done tremendously well in many sectors and markets but now we are at a critical point. The Korean economy can no longer depend on existing growth models. Our maturing economy demands new drivers of growth and innovation. I believe the answer can be found on the path towards green growth. The fact that we set ambitious carbon reduction goals and are implementing green growth strategies bodes well for our long-term prosperity. It is the necessary propulsion that will help us overcome challenges faced by an aging society with few natural resources and an urgent need for breakout growth engines. The engine of the Korean economy is undergoing a major overhaul. It’s a two-track strategy—not only are we contributing to climate change mitigation but also gaining vital competitiveness that gives companies the extra edge. The race to gain new procedures, materials, and technologies stems from the fact that many of our industries are very energy-intensive. In the case of steel, ground-breaking technology like FINEX saves time, energy and produces less GHG emissions than traditional procedures. In another instance, energy efficiency can be raised substantially with a new way of thinking. At some petrochemical complexes, firms are trying to find ways to use leftover raw materials or off-time electricity. One company’s waste product can be another’s raw material—a very effective and clean way to utilize resources. We’d like to see more instances of cooperation on the corporate level. Continuous R&D has brought on exciting high-tech developments in semiconductors and displays. Korea has built up a solid reputation in these areas and now companies are investing heavily in raising efficiency—transforming the landscape of next-generation components to be used in consumer goods. These new chips and displays use dramatically less energy but with heightened performance. New technologies run the risk of failing to produce the expected results and even if they do succeed, there is the risk there will be no market for them. So sharing the risk as well as building up a strong, steady market for green technology and products are foremost on the public and private sector agenda. In our case, we try to cushion the risk with tax incentives, loan guarantees and R&D support. To help build up the nascent market, the public sector is buying more green products and services and drumming up public support and awareness of such products. These exciting developments point to what can be accomplished when we set our minds to going green. But that is not enough. This enormous task requires partnerships across sectors, industries and borders. For this, I know the OECD will develop a far-reaching plan to accommodate the challenges of climate change with the need for green growth. We know that with climate change—inaction is not an option. And Korea is more than willing to share our expertise and other skills with the global community. I am very encouraged that today’s discussions will set the bar high for green growth initiatives around the world. Thank you!

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