Journalist and Businessmen Workshop

The Sustainability and Resilience of the EU and the Implications to Korea

March 15th, 10:50 ~ 11:50 (60')

Featured & Scientific Session 9

Subject

The Sustainability and Resilience of the EU and the Implications to Korea

Host

Yonsei-EU JMCE (Jean Monnet Centre of Excellence)

Venue

The Commons (Baekyangnuri) Grand Ballroom B

Moderator

Yeonho Lee

Director, Yonsei-EU Jean Monnet Centre of Excellence (JMCE); Professor, Department of Political Science and Diplomacy, Yonsei University

Panelists

Jorg Weberndorfer

Minister Counsellor at EU Delegation to the Republic of Korea

Young-ook Jang

Research Fellow, North America and Europe Team, Korea Institute for International Economic Policy

Taedong Lee

Professor, Department of Political Science and Diplomacy, Yonsei University

Young-ook Jang

Research Fellow, North America and Europe Team, Korea Institute for International Economic Policy

• The escalating climate crisis requires a societal shift towards proactive responses. The EU's Fit for 55 and REPower EU initiatives aim for carbon neutrality and stable energy transition, with the Carbon Border Adjustment Mechanism (CBAM) set for implementation in EU corporations from October 2023. CBAM is seen as a significant challenge internationally. Collaborative frameworks between Korea and the EU are necessary to address global challenges in trade, climate, and energy. While US's IRA climate legislation garners attention domestically, discussions on CBAM are relatively limited, yet imperative for corporations.
• The forum discussed the opportunities and challenges of Korea's decarbonization efforts in the context of EU climate policies. The forum also explored the role of the private sector in Korea's green transition, and touched upon the sensitive issue of whether all renewable energy sources are equally sustainable. This is a complex issue with no easy answers, and the forum provided a platform for a constructive discussion of the pros and cons of different renewable energy sources. EU policies related to the circular economy (such as the new EU circular economy action plan, regulation on eco-design, strategy for sustainable and circular textiles, plastic strategy, packaging and waste directive, the revised batteries regulation) has been discussed with the comprehensive CBAM issue.