Implementation of the Paris Agreement to hold the increase in the global average temperature to well below 2°C above pre-industrial levels and limiting global warming to 1.5°C above pre-industrial levels calls for accelerated actions to achieve global carbon neutrality by the middle of this century.

Supporting the efforts of the international community to address the threat of climate change, the government of Korea declared its commitment to achieving carbon neutrality by 2050 and issued its Carbon Neutrality Strategy in December 2020. Further in September 2022, the government of Korea promulgated the Enforcement Decree of the Framework Act on Carbon Neutrality and Green Growth for Climate Change in March 2022. With Korea becoming the 14th country to legislate the vision to achieve carbon neutrality by 2050, the Act stipulates that Korea’s Nationally Determined Contribution (NDC) targets an emissions reduction goal of 40 percent from 2018 levels by 2030.

Despite the country's manufacturing-oriented industry structure, the updated target is the most ambitious level possible. The government will adopt climate-responsive budgeting and climate change impact assessments in major national plans, development projects, and national finance to reduce greenhouse gas emissions apart from implementing other various climate mitigation and adaption initiatives.

In addition, the Climate Response Fund has been operating since January 2022. A budget of 2.4 trillion Korean Won (about USD 1.9 billion) was reflected in 2022 to support greenhouse gas reduction measures, creation of carbon-neutral industries, just transition, and establishment of systems and infrastructure.

This Deep Dive Workshop (DDW) is being jointly organized by the Ministry of Trade, Industry, and Energy (MOTIE) of the Government of Korea and the Asian Development Bank. Since 2012, these organizations have jointly and steadily pursued efforts to promote clean energy initiatives in Asia and the Pacific countries through knowledge sharing, joint project undertakings, technical advisory services, and facilitating investments.


  • To provide a venue to understand the strategies of the Republic of Korea and showcase innovative programs/projects, technologies, and business models to achieve carbon neutrality by 2050.
  • To present ADB’s programs to support clean energy solutions to help achieve carbon neutrality.


2:00 - 2:10 p.m.

Opening Session

Opening Remarks

Sun Young Ma, Deputy Director, Ministry of Trade, Industry and Energy of the government of Korea

Welcome Remarks

Sungsup Ra, Chief Sector Officer Asian Development Bank

2:10 - 3:20 p.m.

Carbon Neutrality Strategies and Economics of Climate Change

Moderator: Anthony Jude, Consultant, Asian Development Bank

Carbon Neutrality Initiatives of Korea

Sohee Kim, Secretary General, Climate Change Center of Korea

Carbon Neutrality Strategy of Power Sector in Korea

Byoung-Doo Kong, Senior Manager, Korea Electric Power Corporation

Social Cost of Carbon

Maria Rowena M. Cham, Senior Economics Officer, Asian Development Bank

3:20 - 3:30 p.m.


3:30 - 4:00 p.m.


4:00 - 5:00 p.m.

Carbon Neutrality Business Models and Programs

Moderator: Anthony Jude, Consultant, Asian Development Bank

ADB Climate Finance Program and Methodology for Tracking Carbon Emission Reduction

Dashak Mehta, Consultant, Asian Development Bank

Small- and Medium-Sized Agricultural Development through Solar

Byoung-Doo Kong, Senior Manager, Korea Electric Power Corporation

New Business Opportunities from Carbon Neutrality

Sang Il Kim General Manager and Head of Sales & Marketing Team I, CARBONCO Pte. Ltd

5:00 - 5:20 p.m.


5:20 - 5:30 p.m.

Closing Session


Byoung-Doo Kong

Byoung-Doo Kong

Senior Manager, Korea Electric Power Corporation

Buyoung Cho

Buyoung Cho

Country Director,
CAMP International

Sang Il Kim

Sang Il Kim

General Manager and Head of Sales & Marketing Team I,

Sungsup Ra

Sungsup Ra

Chief Sector Officer, SDCC,
Asian Development Bank

Darshak Mehta

Darshak Mehta

Asian Development Bank

About the Organizer

Korea Energy Agency is a public institution established in 1980 under the Ministry Trade, Industry and Energy of the government of Korea to promote energy efficiency and conservation for rational use of energy as well as the deployment of renewable energy and other high-level technologies to help reduce global greenhouse emissions and contribute to international efforts to mitigate climate change risks.