S. Korea to cut greenhouse gas emissions in 2030 by 24.4% from 2017 level

녹색성장위, 2030년 국가온실가스 2017년 대비 24.4% 감축 목표 의결With the goal of achieving carbon neutrality by 2050, South Korea is going to submit to the United Nations... an updated version of its national target for greenhouse gas emissions... before the end of the year.The Prime Minister says that South Korea officially sending its goals and strategies to the UN will strengthen its determination to join the world in tackling climate change.Eum Ji-young has more.Under its pledge to go carbon neutral by 2050, South Korea plans to reduce greenhouse gas emissions in 2030 by 24-point-4 percent from the 2017 level.This will be the country's new national target under the Paris Agreement.Known as the nationally determined contribution or NDC, this represents the action South Korea will take to help deliver on the global agreement to fight climate change.Prime Minister Chung Sye-kyun on Monday reviewed and approved the goal at a meeting of the Presidential Committee on Green Growth."By submitting the long-term low greenhouse gas Emission Development Strategies 2050... and the NDC... to the United Nations... we will reconfirm South Korea's determination to fully commit to the new joint efforts of the international community to fight climate change."The new NDC will be submitted before the end of the year, giving South Korea a clearer way to track its emissions reductions... by measuring progress against a specific historical year, 2017.The previous NDC, submitted in June 2015, aimed for a 37-percent reduction by 2030, but that was based not on historical figures but on projections, which can change.South Korea's national carbon emissions from 2018 to 2019 exceeded the set objective by 3-point-5 percent.Also, as part of the long-term low greenhouse gas Emission Development Strategies 2050, South Korea plans to set a higher fuel efficiency standard for automobiles and expand production of renewable energy.There will also be much bigger tax benefits for firms that invest in technologies that contribute to achieving carbon neutrality.Eum Ji-young Arirang News.