Finance Minister Hong Nam-ki says "bold" preemptive measures are needed over progressive adjustments in order for Korea to achieve carbon neutrality by 2050.

He made the remark on Monday during a meeting of economy-related ministers in Seoul.  

The minister noted achieving a sustainable economy by way of carbon neutrality is no longer an optional course of action but an essential one. 

Recognizing it is a "very challenging project", Hong stressed the need to lay a foundation to simultaneously achieve carbon neutrality, economic growth and improving people’s lives by taking proactive steps to seize opportunities.  

To achieve carbon neutrality, Hong said the government has devised a 'three-plus-one strategy' entailing three economic policy directions and one tactic. The policy directions include establishing an economic structure based on low-carbon emission, creating a low-carbon industrial ecosystem and pivoting to a carbon neutral society. The 'plus one' tactic would center on strengthening the institutional framework of carbon neutrality.