Pursuing Carbon Neutrality in the Automotive Sector : Trends, Proposals, and Challenges

Due to the large proportion of emissions which the transportation sector accounts for and the comparative ease with which emissions from this sector can be managed, key countries are tightening emissions regulations in the transportation sector. To this end, various proclamations have been made and many policies have been proposed. Korea has announced robust measures to achieve a carbon-neutral automotive sector by 2050.But carbon neutrality regulations put in place during the transition from ICE vehicles to electric-powered vehicles must consider Korea’s industrial competitiveness and the global market strategies of Korean companies. As Korea’s automotive sector relies heavily on foreign markets, carbon neutral strategies must track international trends. At the same time, the country needs to develop and pursue appropriate strategies that will minimize negative impacts to its domestic industries.This paper explores measures to accelerate growth in the industrial ecosystem of the electric-powered vehicle sector while also supporting a smooth transition to carbon neutrality