It was simply great to have spent the last two weeks in Korea, my wife Jakyung and I splitting our time between her native Seoul and the beauty of the PyeongChang region. In the many years that I have been coming to Seoul, primarily for work, I have always found the combination of industriousness and warmth of the Korean people to be infectious. Yet I had a profound sense of happiness to return to New York City at the end of this trip, for the reason that many New Yorkers would have laughed at several decades ago: I was happy to return to the fresh air of the Big Apple.

I was shocked to have witnessed the constant yellow haze enveloping the Seoul skyline -- something in years prior I had only witnessed in my year of living in China in 2006-2007. Knowing that Seoul in the last decade had spent so much effort to green the city, I knew the haze wasn’t being fought properly with noble accomplishments of planting more trees and the reflowing of streams in the city’s heart.

And while it is easy to assess blame on the desert winds coming from Mongolia and pollution from China, research is showing that auto and power emissions from within Seoul itself are sharing much of the blame. And that is tragic, because South Korea is arguably the one country in the world that has all of the tools it needs to be the global leader in alternative fuel and energy technologies.

First and foremost, it is time for Korea to become the leader in the legislation for hybrid electric vehicle mandates on the South Korean mainland. Yes, Jeju Island already has the mandate to go all electric by 2030, which is certainly helpful. But in a way, the merits of that program have as much to do with marketing greenness as it does actual impact. Simply put, it is not enough.

To truly make the quality of life better for the citizens of Korea, it is time for the government to explain to the people why it is time to mandate that all vehicles sold in Korea will consist of hybrid powertrains, and ultimately fully battery-powered electric engines for passenger vehicles and a combination of alternative fuel vehicles for commercial use.

And the time is now to act. Given that supporting infrastructure must be developed for mass use of electric vehicles, a gradual implementation using milder hybrid technology at first is a better way to tackle emissions issues in Korea while preparing for full-scale EV usage. Such a timetable could look like:

Jan. 1, 2020: All passenger vehicles sold in South Korea must meet the minimum criteria for hybrid electric vehicle. HEVs have different categories; as such I believe it best to limit the types to three categories. First, a full-hybrid system (the most famous being the Toyota Prius, where electric motors drive the wheels and an on-board generator that converts gas to electricity to power the wheels), is technology widely used today. 

Further, plug-in electric hybrids (PHEVs - such as the Chevy Volt) can solely run on electricity provided that the ability to charge on the daily basis is available. And lastly, full on electric vehicles (EVs) would also be for sale. These are ideal for people with shorter daily commuting needs.

Jan. 1, 2020: No diesel vehicles, passenger nor commercial, will be allowed to be sold in South Korea.

Jan. 1, 2022: All commercial vehicle manufacturers must have hybrid, electric, compressed natural gas models or liquefied natural gas models available for sale.

Jan. 1, 2025: All passenger OEMs must have a pure electric version of every passenger car model available for sale.

Jan. 1, 2027: All passenger vehicles on the road in South Korea must be a hybrid or full electric vehicle. This will give existing car owners 10 years from today to rid themselves of their existing non-hybrid vehicles, which matches typical vehicle life spans.

Jan. 1, 2027: All commercial vehicles for sale in South Korea must be hybrid, electric, CNG, LNG or other biomass-powered vehicles (long-haul freight trucks could have an exception, depending on the development of alternative fuel systems, which is currently lagging globally).

Jan. 1, 2030: All vehicles on the road in South Korea, passenger and commercial, must be a hybrid, electric, CNG, LNG or other alternative fueled vehicle. This would also include motorcycles and motor scooters. Further, all passenger vehicles sold in South Korea must be full on electric vehicles. By 2030, battery technology will have evolved to the point where this is feasible.

The timeline laid out above is rational for implementation, based on where technology is today with balancing financial burden for consumers, business owners and government. Of course, government must also support these initiatives with full-on development of a charging infrastructure (which would include public charging stations and mandates to real estate developers to include charging stations in their properties). Lastly, power generation would have to continue to trend toward renewable sources, to truly make the grid-to-road expenditure of energy as combative toward pollution as possible.

The reason I believe South Korea is the ideal country for this most defied and aggressive strategy is because of what makes the country so endearing. The people of South Korea possess the technical skills, the business acumen, and the sincerity of a unified social contract with each other to do what is right for the health and well-being of the population.

The South Korean auto industry has received so many accolades for its progress over the recent decades – now it has the ability to work within itself and its global partners (such as General Motors, Nissan), to truly benefit the environment.

An all-in strategy that ranges from planting trees in Mongolia, building wind turbines and solar farms, to mandating alternative fueled vehicles, will mean cost savings vis-a-vis healthcare spending, to protecting historical treasurers, so tourists like myself can enjoy them under clear blue skies for decades, and yes even centuries, to come.

By Eric Planey

Eric Planey is an international banker with a background in financing the auto and energy industries. The opinions expressed here are solely of the author, and not his current or past employers. –Ed.