A refill station (Image courtesy of Yonhap)
SEOUL, Dec. 24 (Korea Bizwire) — South Korea has broadened its official green taxonomy, recognizing new eco-friendly economic activities such as groundwater reuse, indoor air quality management, and refill station operations.
The Ministry of Environment unveiled the revised framework during a government meeting on December 23, highlighting its growing importance for sustainable economic development.
The green taxonomy, known as the “Green Classification System,” serves as an official benchmark for identifying activities that align with the nation’s environmental goals, including greenhouse gas reduction and the transition to a circular economy.
Its expansion reflects a rising demand for sustainable investments, as more companies and financial institutions issue “green bonds” tied to activities recognized under the taxonomy.
The latest revision introduces 10 new categories, ranging from managing groundwater runoff and producing sustainable materials to enhancing recycling efforts and maintaining forests sustainably. Existing categories were also refined to better support eco-friendly transitions in various industries.
“This updated taxonomy offers clearer guidelines for investors and industries looking to engage in environmentally sustainable practices,” a ministry official said, adding that the framework underscores the government’s commitment to fostering green economic growth.
The taxonomy update arrives at a critical time as businesses increasingly seek to align their operations with global environmental standards. Companies that issue green bonds are required to allocate funds exclusively to activities listed under the taxonomy, further boosting its significance in the financial sector.
The Ministry of Environment plans to make the revised guidelines publicly available on its website and an investment platform by the end of December.
The initiative reflects South Korea’s broader strategy to position itself as a leader in environmental responsibility, ensuring that both public and private sectors are equipped to navigate the challenges of a sustainable future.
Ashley Song (ashley@koreabizwire.com)
