Ministry of Trade, Industry and Energy

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 30 that three more companies have been added to the list of SMEs and middle-market firms leading in the area of carbon neutrality, raising their total number to 12. These 12 companies are forecast to reduce an estimated annual 70,000 tCO2eq of greenhouse gases (GHGs) through a KRW 67.8 billion investment in new facility and equipment.

 

For firms in carbon-intensive industries making leading efforts to reduce GHG emissions, the Korean government is providing support in terms of state funding up to 40 percent (maximum of 3 billion won over two years) of the expenses needed to make improvements in processes, equipment replacement, and facility expansion.

 

On April 30, MOTIE held a performance exchange meeting at AJU Steel’s Gimcheon Plant, a firm that is currently replacing its equipment with low emissions systems and equipment, along with the 12 companies selected for anchor projects in plant establishment support for carbon neutrality. Prior to the exchange meeting, attendees were able to experience firsthand the application technologies for carbon neutrality AJU Steel is introducing to its production site, such as automation systems for process optimization and convergence systems for plating and coating.

 

At the meeting, five firms that completed establishing their respective low-carbon systems shared emissions reduction outcomes and business knowhow to other firms. These twelve companies’ outcomes will be updated via reports and videos through the Korea National Cleaner Production Center (KNCPC) YouTube channel and website (www.kncpc.or.kr). Moreover, the World Climate Industry EXPO slated for September this year in Busan will also promote the content to other companies, experts, and general public.