Ministry of Trade, Industry and Energy

The Ministry of Trade, Industry and Energy (MOTIE) held a conference on February 15 in Seoul to facilitate communication with companies, local governments and other institutions to explain the Carbon Dioxide Capture, Utilization and Storage Act (CCUS Act), promulgated on February 6, and shared the future direction and plans regarding its subordinate legislation that concern detailed support measures, which are of intense interest for companies. Companies and local governments in turn offered various opinions on their expectations of the legislation and need for government support.

 

At the conference, Korea Western Power Co. proposed the need for streamlining the licensing procedures required for installation and operation of carbon capture facilities and Korea Gas Corporation (KOGAS) reported that there exist various grounds to support demonstration project execution and special exemptions under the CCUS law and requested a higher level of receptivity in subordinate legislation. SK E&S proposed the need for government-led active support for international cooperation for cross-border CCS as well as bold incentives for the swift development of the infant industry. Chungcheongbuk-do representatives stated that the subordinate legislation should specify specific support measures for integrated complexes.

 

MOTIE officials responded that a wide range of opinions offered by companies and institutions are to be amply considered and incorporated into the subordinate legislation and emphasized that communication channels like public hearings will be continued in view of the high level of interest shown by companies through this conference.