President Moon Jae-in of South Korea, one of the world's most fossil-fuel reliant economies, said on Wednesday the country will go carbon neutral by 2050.

The announcement comes after Japan earlier this week said it will cut greenhouse gases to zero by 2050 and become a carbon-neutral society, a major shift in position on climate change.

"Together with the international community, we will actively respond to climate change and target carbon neutrality by 2050," South Korean President Moon Jae-in said in a speech in parliament.