South Korea on Monday announced its vision to become one of the world's seven strongest nations in terms of green growth by 2020 and to create nearly two million "green jobs" over the next five years, the presidential office said Monday.
The five-year plan comes as the country pushes to become an international hub of green growth.
Under the plan, the government will spend 107 trillion won (84.5 billion U.S. dollars), which is equal to spending 2 percent of total gross domestic product every year, on green growth by 2013.
The plan is also expected to create around 1.5 to 1.8 million jobs over the five-year period and to create 206 trillion won (162.7 billion U.S. dollars) in economic output.
"Based on our past development experience that made possible the country's intensive development, but with more detailed action plans than the economic development plans of the past, the five-year green development plan provides concrete ways to achieve our goals," Cheong Wa Dae said in a press release.
The plan was approved at a meeting of the presidential committee on green growth, attended by President Lee Myung-bak, the press release said.