Development Planning in Twenty-First Century: The Case of Green Growth Strategy in South Korea

Abstract

In the last decade, with an aim to stimulate economic growth, to place the growth on strong bases, and to improve the competitiveness, countries began the quest towards the appropriate development strategy. Considering the global challenges such as economic turmoil, water, and food supply crises, rising greenhouse gas (GHG) emissions, developing countries can be seen as more vulnerable to all of these risks. The concept of green growth strategy proposes a new paradigm for the countries to make the transition to a sustainable economy. This relatively new development strategy approach involves promoting growth and development while reducing pollution, GHG emissions, minimizing waste and inefficient use of natural resources, maintaining biodiversity, and strengthening energy security (OECD 2010).