Suncheon City Signs 150 Billion KRW Investment Agreement with Lowcarbon Co., Ltd., Creating Over 200 Jobs

Establishing a Foundation for Entering the Global Market of Fine Dust Reduction and Carbon Dioxide Capture Agents

[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do (Mayor Heo Seok) announced on the 27th that it has signed an investment agreement with Low Carbon Co., Ltd. for a factory establishment investment worth 150 billion KRW and the creation of about 200 jobs.

The agreement ceremony was held with the attendance of Im Chae-young, Vice Mayor of Suncheon City, Lee Cheol, CEO of Low Carbon Co., Ltd., Yoon Byung-tae, Jeollanam-do Deputy Governor for Political Affairs, and Song Sang-rak, Director of the Gwangyang Bay Area Free Economic Zone Authority.

Low Carbon Co., Ltd. established a research corporation in China in 2005 and, through over ten years of research, developed sulfur oxide (SOX) reduction technology that controls the oxidation of sulfur components under high-temperature combustion conditions to perform pre-combustion desulfurization, as well as Carbon Capture Utilization (CCU) technology that captures and utilizes carbon dioxide. It is an environmental vaccine company.

The company produces pre-treatment desulfurizers for thermal power plants (GTS), pre-treatment desulfurizers for ships (LCLS), and CO₂ electrochemical conversion catalysts (KLC) to efficiently resolve sulfur oxide and carbon emission issues, and aims to respond sensitively to environmental and climate change issues related to IMO 2020 (International Maritime Organization sulfur oxide content regulations) and the 2050 carbon neutrality policy.

After signing an investment agreement with Jeollanam-do in 2017, Low Carbon Co., Ltd. has its headquarters and factory in Gangjin-gun and its core materials research institute in Gwangyang City. Through this agreement, it plans to establish a factory investment worth 150 billion KRW in Suncheon City, laying the foundation to enter the global market.

The city has been promoting investment attraction for Low Carbon Co., Ltd. since 2019, and this achievement was made possible through joint efforts with Jeollanam-do and the Gwangyang Bay Area Free Economic Zone Authority to attract companies.

CEO Lee Cheol stated, “We will become a world-class company responding to the climate change crisis.”

Vice Mayor Im Chae-young said, “Low Carbon Co., Ltd., Jeollanam-do, and Suncheon City will jointly pioneer new low-carbon-based businesses and lead the realization of carbon neutrality in Korea,” adding, “We will do our best to provide administrative support to ensure successful investment realization.”