Government to Provide Up to 50 Million KRW Support for Fine Dust Reduction Facilities in Industrial Complex Factories

Ministry of Trade, Industry and Energy Launches 'Clean Factory Support Project' as Part of Green New Deal

[Asia Economy Reporter Kim Bo-kyung] The government is set to actively promote the Clean Factory establishment support project within industrial complexes as part of its Green New Deal policy. The Clean Factory project is a low-carbon and green industrial complex initiative aimed at reducing pollutants such as fine dust and greenhouse gases.

The Ministry of Trade, Industry and Energy announced on the 15th that it will implement the Clean Factory project using 3.1 billion KRW from the third supplementary budget recently passed by the National Assembly. From today, the ministry will post the project announcement on its website and accept applications until the 11th of next month.

The Clean Factory project targets small and medium-sized enterprises within industrial complexes to fundamentally reduce the four major pollutants (fine dust, greenhouse gases, waste, and hazardous chemicals) from the production stage by diagnosing manufacturing processes and supporting customized eco-friendly production facilities.

This year, with a budget of 3.1 billion KRW, 100 business sites within 7 smart industrial complexes will be selected and supported, with plans to expand to a total of 1,750 business sites by 2025.

The project implementation process follows the sequence of project announcement → company application → selection of target business sites (document and on-site review + process diagnosis) → customized facility replacement. Selected sites will receive support for eco-friendly facility conversion costs up to 50 million KRW (with a maximum subsidy rate of 75%) based on the process diagnosis results.

Industrial complexes account for 77% of greenhouse gas emissions and 83% of energy consumption in the industrial sector, so this project is expected to make a significant contribution to creating eco-friendly industrial complexes.

Hwang Soo-sung, Director of Industrial Policy at the Ministry of Trade, Industry and Energy, stated, "The Clean Factory project will promote the greening of manufacturing and create new jobs, contributing to enhancing the outcomes of the Green New Deal."