Coal Power Dispute

[Anchor Lead]

South Korea is being criticized by protesters in Poland where the UN climate change conference is taking place. Global environment groups blast Korean financial institutes for investing in the coal power sector in developing nations.

[Pkg]

Members of international environmental organizations criticize the Korean government policy of financing coal projects.

[Soundbite] "Stop Coal!"

The groups argue that overseas coal-fired thermal power plants subsidized by Korean financial firms will aggravate air pollution and public health to inflict losses of some 27 trillion won each year from the year 2020. Korean banks such as the Korea Development Bank and the Export-Import Bank of Korea are investing ten trillion won in 15 coal-fired power plants abroad including in Vietnam and Indonesia.

[Soundbite] Han Chen(Manager of int'l energy policy at U.S.-based Natural Resources Defense Council)

The activists also expressed opposition to South Korea becoming a board member of the UN Green Climate Fund from next year. They said the Korea Development Bank which supports coal development must not utilize funds of the UN agency. In interview with KBS, former US Vice President and avid environmentalist Al Gore also suggested the Seoul government end its coal financing and swiftly shift towards renewable energy.

[Soundbite] Al Gore(Ex-U.S. Vice President)

The Korean delegation to the climate conference in Poland has said that Korea will start to reduce funding for coal and will selectively determine countries that need investment.