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Current Status and Challenges of Green Digital Finance in Korea

In: Green Digital Finance and Sustainable Development Goals

Author

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  • Suk Hyun

    (Yonsei University)

Abstract

The digitalization of economic activities, especially financial activities, has resulted in various advantages in terms of cost reductions. When both digital finance and green finance are combined, Green Digital Finance allows economic actors to take advantage of innovative technologies to analyze data, inform investment decisions, and create more jobs to support a transition to a low-carbon and sustainable economy. The Korean New Deal policy suggests a direction for transition to a digital economy and a green economy. The Korean New Deal Fund provides funding support for the New Deal projects and channels market liquidity to productive and innovative sectors. However, as presented, the New Deal policy has limitations because it exists as various separate projects under the Digital New Deal and the Green New Deal. To successfully implement the Korean New Deal Policy, the nexus between the Digital New Deal and the Green New Deal is explored. After this exploration, it is clear that Green Digital Finance can help maximize the effectiveness of these environmentally driven reforms.

Suggested Citation

  • Suk Hyun, 2022. "Current Status and Challenges of Green Digital Finance in Korea," Economics, Law, and Institutions in Asia Pacific, in: Farhad Taghizadeh-Hesary & Suk Hyun (ed.), Green Digital Finance and Sustainable Development Goals, chapter 0, pages 243-261, Springer.
    • Handle: RePEc:spr:eclchp:978-981-19-2662-4_12
    DOI: 10.1007/978-981-19-2662-4_12
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