S. Korea, U.S. can promote emergence of `green economy`: official

(ATTN: UPDATES with more details in paras 3-4, 9-12)
By Lee Joon-seung
SEOUL, June 8 (Yonhap) -- South Korea and the United States can work together to
promote the development of an eco-friendly green economy, a senior government
official said Monday.
Knowledge Economy Minister Lee Youn-ho told a meeting of the American Chamber of
Commerce in Korea (AMCHAM) that both Seoul and Washington are pushing forward
policies to support sustainable green growth.
"Since both countries have set their goals in this sector, close bilateral
cooperation could lead to positive synergy and fuel development," the policymaker
said. He added that green economic growth cooperation will be a top item for
discussion at the summit meeting early next week between South Korean President
Lee Myung-bak and his U.S. counterpart Barack Obama.
The Lee administration has said its green growth policy is essential to the
country's future. Washington is also pursuing its Clean Energy Project
initiative, which calls for a build-up of reusable energy sources and "green
collar jobs."
"If both sides work together, it could speed up global efforts to establish a
clean growth mechanism," Minister Lee stressed.
As an example, he said fuel cell units made by LG Chem could be supplied to
Chevrolet's Volt advanced plug-in hybrid vehicle.
The minister, meanwhile, said that for closer bilateral cooperation to take
effect, it is important that lawmakers from the two countries ratify the free
trade agreement (FTA) signed by Seoul and Washington on June 30, 2007.
"It is important for AMCHAM to play a role in getting the FTA to pass in the U.S.
Congress so there will be a boost in intellectual, technological and personnel
exchange between the two countries," he said.
The policymaker said that while South Korea's volatile labor-management disputes
have raised concerns about investing in the country, conditions here are not as
serious as perceived abroad.
"The percentage of unionized workers stands at just 10.8 percent of the total
workforce, with only 2.5 percent actually engaged in strikes," he said.
He stressed that Seoul is committed to helping attract foreign direct investment
(FDI) and has played a role in managing labor relations. The country has said
that it wants to attract US$12.5 billion worth of FDI this year.
"In the case of illegal strikes, the government will enforce existing laws and
take necessary steps," the official said.
The gathering in Seoul was attended by some 80 members of the business community,
including former AMCHAM chairman William Oberlin, Stuart Solomon, CEO of Metlife
Korea, and Bob Edwards, head of Chevron's South Korea office.
yonngong@yna.co.kr
(END)