South Korea will spend 95 billion dollars on green projects
South Korean President said Tuesday that his government plans to spend 114,1 trillion won (about 94,6 billion) in "green new deal", designed to create jobs and help the economy to recover from the effects of coronavirus.
most of the investments will be directed in power generation, electric vehicles and hydrogen vehicles.
Six-year plan aimed to reduce the excessive dependence of the fourth largest economy in Asia from fossil fuels.
"Pandemic coronavirus has once again confirmed the urgency of responses to climate change," said President moon Jae-in in his speech, adding that the new projects are expected to create about 1.9 million jobs by 2025.
the Plan provides for investments into smart grids for more efficient management of the use of electricity, promotion of remote medical services, policy work at home for businesses and online schools based on the wireless networks of the 5th generation (5G), as well as tax incentives for telecommunication service providers.
According to the President, in South Korea it is planned that by 2025 the country roads to move 1.13 million electric vehicles and 200,000 vehicles with hydrogen-powered compared to 91 000 and 5 000 cars by the end of 2019.
last week, Seoul said that invest 2.6 trillion won in its own version of the "Green Agreement", and set the period to 2035, to terminate the registration of vehicles with internal combustion engines.
Seoul also plans to build 4000 charging stations for electric cars and 65 for cars with a hydrogen engine compared to 1090 stations for electric cars and four for hydrogen cars.