S. Korea's carbon neutrality investment could create 2.26m new jobs by 2050: report

South Korea can create up to 2.26 million new jobs in fields of energy transition by 2050 if the country invests consistently in achieving its carbon neutrality policy goal, a US think tank report showed Thursday.

The report from the University of Massachusetts' Political Economy Research Institute (PERI), commissioned by Green Peace Korea, examined South Korea's job growth potential under the premise that the country aggressively pursues its goal of cutting its 2030 emissions by 40 percent compared to 2018 and achieving net-zero emissions by 2050.

PERI forecast South Korea can create between 810,000 and 860,000 new jobs from 2022 to 2030, and between 1.1 million and 1.4 million new jobs from 2031 to 2050 when investing adequately in renewable energy development and enhancing energy efficiency during the periods.

It also predicted the rate of decrease in jobs due to the transitioning away from fossil fuels in areas such as the automobile and nuclear energy sectors will be relatively small. PERI projected the car industry to shed 14,500 jobs from 2031 to 2035 when production of internal combustion engine vehicles is to be phased out. (Yonhap)