South Korea’s climate targets will mean remaking its economy
Its industrial centres will have to transform or disappear
“IF WE DO well, the country does well, and if the country does well, that is the way for us to do well,” reads the inscription on the walls of the former Hyundai Heavy shipyard in Gunsan on South Korea’s west coast. The quote from Chung Ju-yung, the late founder of Hyundai, one of the country’s biggest conglomerates, is an apt summary of South Korea’s development strategy. Equating manufacturing prowess with the national interest drove the massive state-led investment in heavy industry that made South Korea rich.
This article appeared in the Asia section of the print edition under the headline “Manufacturing a green revolution”
Asia November 13th 2021
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From the November 13th 2021 edition
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