The Vogue of Things Green . . .

One new buzzword that has become popular with the economic downturn is making things “green” or such as having a “green economy” or a “New Green Deal” or being a “Green leader” (Hyundai Motors, Business Week, 12.22.08) with a “green energy industry”. 

All of this new catchy “Green”-ness  in Korea around the same time as the U.N. Environment Program launched the “Global Green New Deal” and “Green Economy Initiative” as both an antidote to current economic woes and as a springboard to a low carbon, low impact, high job generating and better-managed global economy.  Korea’s goal is to also deliver a 46% improvement in energy efficiency by 2030 (Green Growth Plan).

As per the United Nations blurb on their “Green Deal”:

South Korea, meanwhile, will invest 38 billion dollars (USD) over the next four years in a series of “eco-friendly” projects to create 960,000 new jobs and lay the groundwork for economic growth. The 36 projects include the creation of green transport networks, the provision of two million energy-saving ‘green homes’ and the clean-up of the country’s four main rivers.

Such an effort is not without its vagaries in funding or in actual new ideas though (per the Joongang Ilbo):

A wide range of policies that used to be spread out across different government departments have been combined into a single, green-growth package. The concentration of all the plans into one will likely increase the efficiency with which they are implemented. . . The government will set up a green growth committee that is directly under President Lee Myung-bak and jointly chaired by Prime Minister Han Seung-soo. This will increase the speed at which related laws are formed.

On closer analysis, however, things don’t look so smooth. Most of the projects that were unveiled are just previously existing programs that have been expanded or have had their names rephrased to include the word “green.” The four-river refurbishment project and some “eco-friendly” schools, which the government was already working on, are among such plans.

New projects, such as the construction of bicycle roads and the establishment of an integrated energy management system, are visibly limited.

Even the jobs that are expected to be created are questionable. Among the 956,000 positions to come open, jobs in construction and simple production account for more than 95% at 916,000. Only 35,000 require expertise or management of technology (related to “green” technology).

Thus, in Korea, there are still unresolved parts of this “New green deal”. 

Despite such problems, the gist of the whole effort is a worthy one in that it will begin laying down the infrastructure and research needed for Korea to do better in terms of energy production and driving its own economy. 

Per a Business week article on Hyundai’s planned research into its own “green” future:

To catch up (to Toyota’s “green technology”), Hyundai says it’s devoting lots of money and engineering brainpower. At its research labs in Namyang, south of Seoul, nearly 2,000 engineers are racing to prepare gas-electric hybrid and fuel-cell engines as well as flex-fuel and clean diesel powertrains. The company won’t disclose how much it’s spending, but it’s forecasting an overall research and development budget of 5.2% of revenues this year, or roughly $1.4 billion.

Despite the good intentions, Hyundai has yet to reveal a hybrid vehicle prototype, thus Hyundai has to expend a considerable effort to become the kind of innovator it hopes to become.

 Additionally, LG Electronics (LG), has announced that it has entered into an exclusive agreement with REC Wafer of Norway to purchase multicrystalline silicon wafers and in October 2008, LG announced its plan to convert its A1 plasma panel manufacturing line in Gumi, Korea, for solar cell production. LG plans to invest KRW 220 billion to establish two solar production lines with mass production to begin in the first quarter of 2010. Each line will have an annual capacity of 120 megawatts.  LG intends for solar power to be a new “growth engine” for the company.

Alongside industry, the Korean Government also has set goals for renewable energy:

. . . the government plans a 44-fold increase in the use of photovoltaic energy, compared with the levels seen in 2007. The use of wind power will jump 37-fold, biofuels 19-fold, and geothermal power 51-fold. The government intends to achieve these milestones by:

Stimulating domestic demand for wind power, tidal power and biofuels. Steps will include introduction of the Renewable Portfolio Standards, and the enforcing increased use of renewable energy in public buildings.

Supporting the development of core technologies in the fields of photovoltaic energy, wind power and hydrogen fuel cells. These include thin-film solar cells and large wind turbines.

Though there are gaps in the details of this Green Growth Plan, this appears to be a badly needed effort in addressing Korea’s future energy needs and to market any innovative energy-related technology to other countries who are looking to solve some of their own energy-related problems.  Instead of engaging in an unethical “race to the bottom” that the last administration dabbled with, this is the sort of race that Korea is better suited to running and winning, though it will take time and more than a little effort to turn this “green” ideal into something real.