S Korea to spend US$2.1b to fight global warming

SEOUL - South Korea plans to spend nearly 2 trillion won (US$2.1 billion) on research and development (R&D) on environmentally friendly technology over the next five years as part of efforts to tackle global warming, officials said Tuesday.

A total of 1.94 trillion won will be invested in five environmental fields until 2010 to help the country meet the standards of the Kyoto Protocol, the Ministry of Science and Technology said.

The Kyoto Protocol, an ambitious environmental pact initiated by the United Nations, is designed to slow global warming by reducing carbon dioxide and other gases blamed for causing the



greenhouse effect. The agreement, signed by 141 countries, went into effect in February 2005.

South Korea, which has a developing country status in the climate accord, is not subject to the regime until 2013, but is expected to play a role later as it is the world's ninth-largest emitter of greenhouse gases.

Of the total, 931 billion won will be earmarked for the development of alternatives to fossil fuel, 784 billion won to boost energy usage efficiency and 180 billion won for the development of technologies to better control carbon dioxide and non-carbon dioxide materials, the ministry said.

The fields of environment assessment and application technologies will also receive 49 billion won, according to the ministry.

"The spending plan should help South Korea boost its international competitiveness in global warming prevention and related technologies," a ministry official said.

(Asia Pulse/Yonhap)