The Ministry of Trade, Industry and Energy announced on the 10th that it will provide a total of 4.15 billion KRW to support a project that enables the recycling and reuse of by-products such as waste heat, waste gas, and waste liquid generated during the manufacturing process in industrial complexes by other companies.
Applications for participation in the project must include one or more small and medium-sized or mid-sized enterprises located in the industrial complex, and selected projects can receive funding of up to 1 billion KRW per project, covering up to 70% of the costs for establishing recycling facilities and calculating greenhouse gas reduction performance.
Companies located in eco-industrial complexes or projects identified through preliminary feasibility studies will receive additional points during the selection evaluation.
Since industrial complexes are densely populated with many companies in a concentrated space, they have favorable conditions for other companies to reuse resources left over from one company. By utilizing process by-products as ‘circular resources’ rather than ‘waste,’ companies can enhance their competitiveness and simultaneously reduce greenhouse gas emissions, achieving a win-win effect.
Since 2005, the Ministry has designated eco-industrial complexes (currently 105) and has been supporting the introduction of various recycling facilities for companies through the Eco-Industrial Development (EID) project, which increases resource circulation among companies.
Companies wishing to apply for support can do so through the e-Naradoom website on the Integrated Subsidy Portal, and detailed announcements can be found on the Ministry of Trade, Industry and Energy website and the National Cleaner Production Center website.
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