Policy status:Planned
Date Effective:2005
Policy Type:Voluntary Approaches, Research, Development and Deployment (RD&D)
Agency:Ministry of Commerce, Industry and Energy (MOCIE)
Climate Change Description:Major Korean automobile manufacturers agreed on December 12, 2005 to improve the fuel efficiency of cars effective 2006. According to the agreement, the five major automobile manufacturers—Hyundai, Kia, GM Daewoo, Sangyong, and Renault Samsung—will increase fuel efficiency by more than 15% by 2012, and expand R&D in hybrid and fuel cell-powered vehicles. The energy savings measure aims to reduce energy consumption in the transportation sector as well as limiting the emission of carbon dioxide. The country calls for energy savings of 220,000 kl per year, or equivalent to 313 billion Korean won, and reduce the emission of carbon dioxide by 350,000 metric tons annually.

Last modified: Thu, 26 Jul 2012 15:32:59 CEST