Korea’s bold initiative, the Green Growth Plan (GGP), spanning 2009 to 2013 with fiscal outlay of US$84 billion, posed a significant challenge to sustainable public finance management in Korea. This paper reviews how Korea accommodated the huge cross-cutting expenditure plan in its annual and medium term budgets. Notably Korea’s medium term expenditure framework, the National Fiscal Management Plan, enabled the Ministry of Strategy and Finance’s Budget Office to integrate the GGP into the budget and maintain fiscal balance. However, the paper also notes that Korea’s experience suggests international standards on budget classification to be updated to accommodate government-wide initiative.
This paper explains why the Republic of Korea adopted green growth as a new national development strategy and details how it has been implemented by the government.
Water security and water quality affect numerous economic sectors and areas: agriculture, energy, disaster management, and others. Countries need balanced and integrated approaches that are economically, environmentally, and socially sustainable.
This is a compendium featuring six successful examples of green public procurement implementation in four different Asia-Pacific countries, namely Thailand, Japan, China and Korea.
The Government of the Republic of Korea estimated that an investment of USD 105 billion in green growth between 2009 and 2013 would bring about 1.18 million jobs in the country (PCGG, 2009b).