South Korea's Financial Services Commission has joined other government agencies and industry groups in publishing a 2026-2035 Korean Green Transformation strategy that combines industrial decarbonization with investment in green growth. The plan provides for KRW 200 trillion in fiscal spending and at least KRW 790 trillion in climate finance from five policy finance institutions as part of KRW 1,000 trillion in total support. Private companies are expected to invest another KRW 220 trillion through flagship projects. Policy finance will prioritize regions and small and midsize companies, while transition finance will support the conversion of high-emitting industries under a code of practice due in October. The government also plans to expand the Climate Response Fund, prepare the institutional framework and details for green sovereign bonds in the first half of 2027, and pursue an inaugural issuance in 2028. Financing will support the decarbonization of five high-emitting sectors, 100 gigawatts of renewable energy capacity by 2030, transport electrification and 10 priority green industries.
South Korea Financial Services Commission joins government launch of 10-year green transformation strategy backed by KRW 1,000 trillion
South Korea's Financial Services Commission has joined the launch of a 2026-2035 green transformation strategy providing KRW 1,000 trillion in fiscal and climate finance support. The plan includes at least KRW 790 trillion from five policy finance institutions and KRW 220 trillion in private flagship projects. Transition finance standards, green sovereign bonds and targeted support for high-emitting industries form key parts of the financing framework.