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< Abstract >
Structural Changes in the Environmental Market and Associated Policy Implications

With "green growth" designated as the favored new development paradigm for Korea, the environmental industry is emerging as a new engine for economic growth. Nevertheless, details on the real contribution of the environmental industry to economic growth, job creation, and emissions reduction remain sparse. Accordingly, it is critical to understand the current status of the industry and to analyze the relevant data.

This study was intended to review the present state of the Korean environmental market, and to analyze changes in its overall structure, as well as changes in its constituent markets. To this end, a definition and typology of the "environmental industry" was presented. The scale of the Korean environmental market was then estimated using available data, before examining the structure and characteristics of environmental protection groups in depth. Finally, policy suggestions for invigorating the environmental market were proposed, including promotion of market competition, expansion of the role of the private sector, upgrading of economic incentives, establishment of an environmentally-friendly taxation system, promotion of environmental protection activities in the service sector, and expansion of investment in environment-related R&D.