Gyeonggi Province has laid the groundwork to lead the climate tech industry by enacting the nation's first 'Climate Tech Industry Promotion Ordinance.'
On the 21st, Gyeonggi Province announced that the 'Climate Tech Industry Promotion and Support Ordinance,' which includes the definition of climate tech and institutional grounds for business promotion support, passed the Gyeonggi Provincial Council on the 20th.
Proposed by Baek Hyun-jong, chairman of the Urban Environment Committee of the Gyeonggi Provincial Council, this ordinance was enacted with the shared recognition by Gyeonggi Province and the council of the need to foster the climate tech industry in line with global trends. It is significant as the first of its kind nationwide, aimed at the continuous and systematic promotion and support of the climate tech industry and the establishment of its foundation.
The ordinance mandates the establishment of a comprehensive plan for fostering the climate tech industry every five years and allows for the installation and operation of a Climate Tech Center to create a climate tech cluster. The climate tech cluster is designed to activate climate tech research and development and demonstration testing, providing a policy foundation for continuous development of practical technologies to respond to the climate crisis and reduce carbon emissions.
Gyeonggi Province plans to strengthen financial support and fiscal backing for the growth of the climate tech industry. To facilitate smooth funding for climate tech startups and small and medium-sized enterprises, it will form investment associations (funds) through financial support and institutions that provide investment and contributions, linking them to investment attraction.
Professional workforce development, a key factor for the growth of the climate tech industry, will also be promoted. The ordinance includes strengthening educational programs and training systems to cultivate professionals suitable for the climate tech industry. Through this, it is expected to actively discover talent needed in the climate tech field and continuously supply skilled personnel equipped with the necessary technologies and capabilities for the industry.
Cha Seong-su, Director of the Climate Environment and Energy Bureau of Gyeonggi Province, stated, "Through the enactment of this ordinance, Gyeonggi Province will support the growth of the climate tech industry and continuously strengthen its leading role in responding to the climate crisis." He added, "We will continue innovative challenges that turn the climate crisis into an opportunity by fostering climate tech that simultaneously pursues economic development and carbon neutrality goals."
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