Recently the Chinese government announced its the 12th five-year program. This program mainly focuses its attention on new energy and clean-energy cars. Furthermore, the five-year plan is to reduce the carbon footprint (CO2) by 40–45 percent by 2020. In this respect, the size of the new and renewable energy market in China is expected to grow. At the same time, the Korean government supports policy of new and renewable energy industry as one of the new alternative engines for growth.

  This report compares renewable energy policy between Korea and China, and seeks potential ways to improve it in terms of the tax system, and financial support, and to cut red tape for implementing renewable energy policy.