The government will announce a legislative notice for subordinate regulations of the Carbon Dioxide Storage and Utilization Act, which specifies facility standards for carbon dioxide capture, utilization, and storage (CCUS) operators.
The Ministry of Trade, Industry and Energy announced on the 10th that it will open for public comment for 40 days until the 19th of next month the draft enforcement decree and enforcement rules containing delegated matters of the "Act on Carbon Dioxide Capture, Transport, Storage, and Utilization," which was enacted and promulgated in February this year.
This draft was prepared by the Ministry of Trade, Industry and Energy through five rounds of consultations with industry, related organizations, and experts. It presents specific standards and scopes regarding the securing and operation of carbon dioxide storage sites essential for greenhouse gas reduction, as well as support for related companies and industries.
The main contents specify detailed standards for facilities that operators must have for reporting capture facilities, approval of transport businesses, and permits for storage businesses. It also establishes certification procedures and labeling standards for carbon dioxide utilization products and technologies.
Additionally, it stipulates detailed standards related to demonstration and commercialization support for companies conducting related businesses, the scope of subsidies and loans for project costs, and includes provisions for designation and support systems for cluster complexes to revitalize the industrial ecosystem, as well as establishment standards for the CCUS Promotion Center.
An official from the Ministry of Trade, Industry and Energy stated, "Through this legislative notice, we plan to actively support the activation of the carbon dioxide capture, transport, storage, and utilization industry by collecting various opinions on the draft, reflecting them after consultations with related ministries, and incorporating them into the draft."
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