A senior South Korean official said here on Wednesday that his nation's environmental objective was to build up a country with "low carbon and green growth."

Speaking at a press conference held at the G20 summit media center in south Seoul, Young Soogil, Chairman of the Presidential Committee on Green Growth, told reporters that "low carbon, green growth" was South Korea's new development vision for the next 60 years, as promised by South Korean President Lee Myung-bak in 2008.

He was speaking on the eve of the upcoming G20 summit which will discuss the thorny issues such as economic recovery, the unbalance of trade and the valuation of currencies.

Young said in order to achieve this goal, the Framework Act on Low Carbon Green Growth was passed as legislation at the end of last year, which authorizes the government to intervene in the market in any way that is justified by market failures.

The Presidential Committee on Green Growth was also created as the highest body for public-private sector consultation as well as inter-ministerial coordination on green growth policies.

"We believe that it will help renovate the whole economy to enable the South Koreans to realize a new quality-based economic prosperity while enjoying a healthy natural environment, and contributing to the global fight against climate change.

Young mentioned that South Korea has done a lot to realize the green growth, such as expanding the national railroad network linking all regional hub cities in the next few years, engaging in an infrastructure project to restore four main national rivers, and encouraging all companies, big or small, to participate in green businesses.