Seoul (South Korea), July 20: President Moon Jae-in stressed the urgency Tuesday of taking government-private measures to respond to changes in the international trade conditions, especially in line with efforts to tackle climate change.
For example, he said, the European Union plans to implement a carbon border tax in 2026 on certain goods imported from third countries with lower environmental standards.
It also announced a plan to start banning the sale of new internal combustion engine vehicles in 2035.
"Changes in the international trade environment to tighten environmental regulations are becoming a pending matter of reality, not a matter of a distant future," the president said during a weekly Cabinet meeting.
"It is urgent to come up with measures to minimize the impact on domestic firms" for a country that is heavily dependent on exports and manufacturing businesses, Moon said.
He called on the government and the private sector to craft joint strategies to counter the potential impact in a preemptive way.
He added the campaign to create a low-carbon economy needs to be accelerated with the goal of achieving carbon neutrality by 2050.
Source: Yonhap
