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S. Korea calls for cooperation with global companies on climate goals

South Korea`s Trade Minister Yeo Han-koo (Ministry of Trade, Industry and Energy)
South Korea`s Trade Minister Yeo Han-koo (Ministry of Trade, Industry and Energy)
South Korea's Trade Minister Yeo Han-koo proposed Friday that South Korean and global companies join hands to address climate challenges as he met with leaders of major businesses, his office said.

Yeo made the call at a meeting of the Alliance of CEO Climate Leaders, a platform under the World Economic Forum, in Glasgow, Scotland.

The meeting brought together dozens of top officials of multinational firms and government officials who sought ways to help accelerate the transition to a net-zero economy.

The meeting came after world leaders held a UN climate summit in Glasgow amid growing calls to reduce greenhouse gas emissions, which scientists say are to blame for global warming.

"Yeo called for forming coalitions and cooperation between South Korean and global firms to help developing nations' work on green growth and carbon emission reduction," the Ministry of Trade, Industry and Energy said. 

"He also said that policymakers need to encourage firms to better engage in measures for environment protection so as to prevent such new measures from restricting trade," it added.

The minister also introduced South Korea's commitment to cutting greenhouse gas emissions by 40 percent from 2018 levels by 2030 as part of its broader aim to go carbon neutral by 2050.

Founded in 2014, the alliance is meant to discuss corporate actions on climate change and represents business leaders from diverse industry sectors and regions who seek to use their influence to drive change.

Earlier in the day, Yeo also had one-on-one talks with British Trade Secretary Anne-Marie Trevelyan, and the two sides discussed bilateral trade and emission reduction issues.

Yeo also asked for Britain's interests and participation in South Korea's initiative on putting in place a global hydrogen supply chain, according to the ministry.

Separately, French automotive suppliers Plastic Omnium told Yeo it will invest $30 million to build production facilities for hydrogen storage tanks in South Korea's southeastern city of Gyeongju by 2023, according to the ministry. (Yonhap)