GS Caltex and Korea Research Institute of Chemical Technology Collaborate on CCU to "Enhance Future Competitiveness"

Cooperation on CCU Technology Development and Infrastructure Inspection
"Leap to a Global CCU Company"

GS Caltex is partnering with the Korea Research Institute of Chemical Technology (KRICT) to collaborate on a carbon capture and utilization (CCU) project.

On the 17th, GS Caltex signed a memorandum of understanding (MOU) for CCU business cooperation and strategic alliance at GS Tower in Gangnam-gu, Seoul, attended by key officials including Kim Jeong-su, Head of Strategy Planning at GS Caltex, and Lee Young-guk, President of KRICT.

Huh Se-hong, President and CEO of GS Caltex. [Photo by GS Caltex]

Through this agreement, both parties plan to cooperate on CCU technology development, infrastructure inspection, and feasibility studies for commercialization.

CCU is a technology that transforms carbon dioxide captured from industrial sites into various high value-added carbon compounds through chemical, biological, and mineralization conversion technologies. GS Caltex is researching ways to convert carbon dioxide into fuels and petrochemical feedstocks using technologies such as hydrogen addition and catalysts. Leveraging KRICT’s capabilities in CCU technology verification and commercialization review, GS Caltex aims to strengthen its future competitiveness.

Furthermore, the company plans to proactively secure world-class CCU technology to create new business opportunities and contribute to carbon reduction in the Yeosu Industrial Complex and across South Korea.

Meanwhile, countries around the world are striving to secure competitiveness in CCU technology and foster the market. South Korea established a legal foundation necessary for nurturing the CCU industry by enacting the "Act on Carbon Dioxide Capture, Transport, Storage, and Utilization" in January. Major countries such as the United States, the EU, Canada, and Japan are also preparing institutional support measures including R&D investments for CCU research and development.

Kim said, "We expect this agreement to accelerate the development and commercialization of CCU technology," adding, "Through CCU technology development, we plan to leap forward as a global CCU company."