The Republic of Korea joined P4G as a country partner in 2017 and launched its National Platform in 2018. In 2022, the Republic of Korea and the World Resources institute signed a Memorandum of Understanding pledged $4 million in funding for P4G to continue funding and accelerating partnerships that contribute to developing countries' responses to climate change.
The Republic of Korea facilitates cooperation and knowledge sharing with P4G partner countries through Korean businesses and NGOs being partners in innovative partnerships that contribute to national climate and development priorities in P4G partner countries. These businesses and organizations share their expertise and build local capacity to help partnerships achieve their goals.
The Ministry of Foreign Affairs, working with business leaders, government and sustainability professionals from across the country, helps identify and accelerate green business partnerships in P4G partner countries.
The Republic of Korea is actively involved in six P4G partnerships.
Intelligent Water Leakage Management, an online service which combines insight from water leakage management experts with innovative software to reduce water loss, is an example of a P4G partnership combining Korea’s expertise and technology to contribute to Vietnam’s development priorities.
Another partnership, Food Upcycling for the Future directly reduces food waste and mitigates carbon emissions by upcycling beer byproducts into a nutritious alternative flour. This partnership shares Korean technology in food upcycling to create a new market in Indonesia that will contribute to Indonesia’s food loss and waste reduction targets.
The Republic of Korea’s introduction of the Korean New Deal outlines a clear agenda that prioritizes a green recovery from COVID-19 aligned with long-term climate goals. The proposed plan — comprising a Green New Deal and Digital New Deal — includes an investment agenda of US $135 billion in green and digital technology. The Green New Deal calls for the expansion of solar panels, investments in microgrid communities, zero emissions vehicles and circular economy practices.
The Republic of Korea hosted the 2021 P4G Seoul Summit on May 30 – 31, 2021. The Summit gathered 67 world leaders and heads of international organizations in uniting for bold climate action to meet international commitments. The Seoul Declaration adopted at the Summit highlights the role of public-private partnerships in driving a net zero future. A stepping stone to COP26, the Summit mainstreamed P4G as a delivery mechanism for climate action and showcased how P4G partnerships are accelerating green, innovative solutions centered around developing countries’ priorities.
We were able to reaffirm that we are united as one in our commitment. The public-private partnerships enhanced through this Summit will lead to a successful COP26 coming in November, which I say with confidence. Moreover, leaders concurred that the UN-led initiatives for responding to climate change and achieving SDGs have been complemented by P4G.