South Korea Unveils $747 Billion Green Transformation Strategy Through 2035

Key Facts

1South Korea plans to invest $747 billion in renewable energy, EV uptake, and industry decarbonization by 2035.

2The new strategy targets 100 gigawatts of renewable energy capacity by 2030.

3The government aims for electric and hydrogen vehicles to exceed 70% of new vehicle sales.

South Korea plans to invest $747 billion in renewable energy, electric vehicle (EV) uptake, and industry decarbonization by 2035. Reuters reported that President Lee Jae Myung stated during a news conference that the nation must move away from chasing others to become a leader in the green market. The "Korea Green Transformation" (K-GX) strategy is designed to address energy security concerns and comply with tightening global carbon regulations.

The strategy sets a target of 100 gigawatts of renewable energy capacity by 2030 and aims for electric and hydrogen vehicles to exceed 70% of new vehicle sales. This massive investment plan follows economic data showing South Korean exports grew 83.5% year-on-year on October 1, 2026, while the Manufacturing PMI stood at 53.9 on the same date, highlighting the industrial base the government seeks to transition away from fossil fuel dependence.