Teens say no to Samsung's coal project

The Korea Times

The Korea Times

National

Sat, September 23, 2023 | 19:12

Politics

Teens say no to Samsung's coal project

Posted : 2020-08-19 17:25

Updated : 2020-08-19 17:34

Youth 4 Climate Action Korea members make a performance during a press conference outside Samsung's office in Seoul, Wednesday. / Courtesy of Youth 4 Climate Action Korea

By Kim Se-jeong

Young environmental activists in Korea gathered outside Samsung's headquarters in Seoul Wednesday, adding pressure on the electronic giant's construction arm not to participate in a coal plant construction project in Vietnam.

Samsung C&T is currently considering participation in the Vung Ang 2, a 1,200-megawatt coal power plant construction project in Vietnam's Ha Tinh province.

"Coal is the biggest contributor to the world's greenhouse gas emissions. If humanity is wiped out from the Earth because of climate change what good would Samsung's quality goods and services be?" Nam Dae-hee, 18, a member of Youth 4 Climate Action in Korea, said during a press conference.

In a letter to Samsung C&T, the young activists argued: "With the help of the Green New Deal, the Korean government pledged to reduce 12.29 million tons of greenhouse gases by 2025. But the coal plant in Vietnam is projected to emit 6.6 million tons every year ― more than 200 million tons in total for the next 30 years. If Samsung C&T decides to participate, it would mean the company has no awareness about climate change and its consequences."

Earlier this week, international environmental groups ran an ad in the Financial Times, a London-based economic daily, pressing the Korean company to stop its pursuit of the coal power project.

Specialized in power plant construction, Samsung C&T has many projects in and outside Korea. According to its website, it is undertaking power plant projects in the UAE, Singapore and Saudi Arabia.

A representative from Samsung C&T refused to comment specifically on the environmentalists' actions but said of the company's intentions, "We are only considering participation. We've not decided to participate. This is all we can say now."

Globally, Samsung has been under growing pressure over its business decisions' potential to pollute and emit greenhouse gases. Last month, Samsung Securities, a financial arm of the group, canceled a coal shipping port construction financing project in Queensland, Australia, in the face of a boycott campaign by local consumers.

According to eco-business.com, Standard Chartered Bank, OCBD Bank and DBS had been interested in the same project but withdrew from it because of "conflicts with tightened climate policies."

International environmental activists have come together recently in their campaigns to stop Samsung C&T from participating in the Vietnamese project. The website wrongcalloncoal.com is dedicated to this cause, urging visitors to act against Samsung.

Youth 4 Climate Action has been especially active recently. In May, it successfully influenced the Seoul Metropolitan Office of Education to keep its money out of banks involved in coal financing projects.

Coal is blamed as a major contributing factor to greenhouse gas emissions and aggressive global campaigns are underway to reduce the world's reliance on it. The global trend isn't followed in Korea where coal is still the primary source of energy. Korea is one of the world's largest greenhouse gas emitters.

skim@koreatimes.co.kr