Chuo Nippo, a Korean Internet Newssite based in Seoul reported an article about a central bank report comparing Japanese and Korean environmental policies of the past 30 years.
According to Chuo Nippo, Japan has been constantly putting effort on increasing energy efficiency and developing alternate fuel after the oil shock, or in other words tackling the issue by quality. As a result Japanese industries are less dependent on fossil energy. While Korea has been setting laws to decrease the amount of energy consumption such as driving regulation and switch-off campaigns, a quantity approach.
The two policies resulted in the difference of recent price raise due to rising oil price. Korea is experiencing rapid inflation by over 10%, while Japan was able to push down the rate to a few percent.
This is an encouraging insight for Japanese industry and the following policies aiming for a low carbon society.
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