Government Holds Carbon Neutrality R&D Business Meeting with Industry

Ministry of Industry Launches Preliminary Feasibility Study Planning Worth Trillions for Carbon Neutrality in Industrial Sector

[Sejong=Asia Economy Reporter Kwon Haeyoung] On the 28th, the Ministry of Trade, Industry and Energy held the 'Industrial General Sector Carbon Neutrality R&D Corporate Meeting' at the LW Convention Center in Seoul to gather opinions on new carbon neutrality research and development (R&D) and to listen to sector-specific response directions.

The meeting was attended by 13 companies from the industrial general sector including machinery, automobiles, and shipbuilding, excluding high-emission industries, as well as the Korea Institute for Advancement of Technology, the Ministry's R&D Strategy Planning Group, and the Korea Institute of Industrial Technology.

Following the plan to establish a 'Mid- to Long-term R&D Strategy' announced last February, the Ministry organized this event to build consensus with the industry and to actively encourage participation and communication regarding new R&D project planning. The strategy aims to include not only high carbon-emitting industries such as steel and petrochemicals but also general industrial sectors like machinery, automobiles, and shipbuilding.

At the meeting, the Ministry presented an overview of the new preliminary feasibility study projects for carbon neutrality R&D and collected industry opinions related to this. They announced plans to promote a preliminary feasibility study for new R&D projects worth trillions of won across all industries including high carbon-emitting sectors, requesting industry input and participation regarding sector-specific characteristics and reduction methods.

The industry proposed active government R&D support that can be commonly applied across the entire industry to realize carbon reduction, including raw material decarbonization, low-carbonization of high-emission processes, and development of high-efficiency technologies for common industrial facilities.

Kim Sangmo, Director of Industrial Technology Convergence Policy at the Ministry, stated, "Carbon neutrality R&D differs from other R&D in that technology development is not the ultimate goal but a means to achieve carbon reduction targets," adding, "It is necessary to establish technology development strategies within the broader framework of reduction strategies by sector, from technology development to demonstration and industrial application."