MOON TAKES PART IN CLIMATE SUMMIT

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President Moon Jae-in took part in the Leaders Summit on Climate at U.S. President Joe Biden's invitation. Moon has promised to raise Korea's greenhouse reduction target and suspend public funding for newly built overseas coal-fired power plants.

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Last October President Moon unveiled his plan to achieve carbon neutrality by 2050. On Thursday he outlined a detailed plan to how to make that happen. First and foremost, he stressed efforts to reduce greenhouse gas as the first key step toward implementing the Paris Agreement.

[Soundbite] (Pres. Moon Jae-in) : "Korea will further raise its Nationally Determined Contribution goal for reducing greenhouses gas by 2030 and will submit it to the U.N. this year."

Moon said he's committed to joining global efforts to stop the use of coal. The South Korean leader has pledged to halt funding for newly built overseas coal-fired power plants. He also outlined Korea's efforts to do away with being the world's sixth largest producer of carbon emissions.

[Soundbite] (Pres. Moon Jae-in) : "The Korean government has drastically reduced the use of coal in power generation, and is rapidly expanding the use of renewable energy such as solar and wind power."

Moon said measures are needed to address the negative impact of climate efforts on the relevant industries and jobs that may turn obsolete in its green efforts. The president vowed to expand investment in renewable energy equipment in Korea and abroad. Moon urged the world leaders to provide support to developing nations that have no choice but to rely heavily on coal to produce power. He also urged interest in the P4G Summit, which is to take place in Korea next month as part of the global efforts to address climate change. It was the first time that Moon Jae-in and Joe Biden met, albeit virtually. But it is a first since the U.S. president took office. Cheong Wa Dae expressed hope that the two nations will further strengthen their alliance on various levels through climate response.