Carbon capture gets a boost in South Korea as new bill takes effect

Seoul (The Uttam Hindu): – A significant bill aimed at promoting the carbon capture, utilization, and storage (CCUS) industry in South Korea is set to come into effect this week, the government announced on Thursday. This bill aims to support the development of CCUS technologies and foster the industry's growth, in response to the increasing demand for eco-friendly solutions to combat climate change. The Ministry of Trade, Industry and Energy confirmed that the bill will take effect on Friday, outlining key measures such as the designation of potential sites for ocean carbon sinks, the operation of related facilities, and support initiatives for businesses within the sector. A ministry official stated, "With the implementation of the CCUS bill, the government has laid the administrative and financial groundwork to foster CCUS technology, develop the industry and meet the country’s nationally determined contribution (NDC) target for 2030."

As part of its climate commitments, South Korea has pledged to reduce its greenhouse gas emissions by 40% from 2018 levels by 2030 and to achieve carbon neutrality by 2050. Additionally, the government has allocated 129.3 billion won ($88.6 million) in 2025 to support projects aimed at developing technologies for carbon neutrality and ensuring energy stability. These projects will focus on advancing renewable energy technologies, including next-generation solar power, hydrogen energy, and the efficient operation of nuclear plants to help meet net-zero carbon emissions goals. The funding will also help enhance the stability of the nation’s energy supply, addressing rising electricity demand driven by artificial intelligence (AI) development and other advanced technologies, alongside the challenges posed by climate change.

South Korea’s comprehensive approach reflects its commitment to advancing clean energy solutions and reducing carbon emissions while strengthening energy security for the future.