Korean S&T Policy for Green Growth, New Growth Engines, and Job Creation

Green Growth as a Post-crisis Long-term Growth

Recently the world has experienced a severe and broad financial crisis that has not been experienced for the past 50 years. Most of the countries experienced significant decrease in industrial production and continuance of financial crisis led to countries implementing necessary steps to stimulate the economy through tax support and spending program. However, there are critiques pointing out that this implementation should be considered along with sustainable long term growth plan. Unfortunately, steps to stimulate the economy not only increase short-term demand and but also provide an opportunity to potential growth or green growth. The issue now is 'how resource should be allocated and how the economy support package should be modified to create long-term social benefits'. The presentation will review the policy efforts to secure long-term potential growth during the economic crisis, political issues will be identified that may benefit many countries.