KCCI "Concerns Over Feasibility of Government Carbon Neutrality Plan... Industrial Sector Opinions Must Be Reflected"

[Asia Economy Reporter Ki-min Lee] The Korea Employers Federation (KEF) expressed agreement with the direction of carbon neutrality outlined in the government's draft carbon neutrality scenario released on the 5th, but also voiced concerns about its feasibility.

In a statement issued that day, KEF said, "We agree with achieving carbon neutrality by 2050 through continuous reduction of greenhouse gases. Companies have actively worked to reduce greenhouse gas emissions by expanding the use of renewable energy and developing and applying eco-friendly technologies."

KEF pointed out, "The industry has significant concerns about whether key reduction methods presented in the '2050 Carbon Neutrality' scenario, such as hydrogen-based direct reduction steelmaking technology and eco-friendly fuel and raw material conversion, can be commercialized by 2050."

In particular, KEF predicted, "Given Korea's manufacturing-centered industrial structure and high dependence on coal fossil power generation, if rapid greenhouse gas reduction policies weaken corporate competitiveness, it will have a major impact on the overall Korean economy and society."

Accordingly, KEF emphasized, "For the 2050 carbon neutrality scenario to be set at a reasonable level, the opinions of the industrial sector must be carefully reviewed and actively reflected in the scenario during future stakeholder consultation processes."