Ministry of Environment Supports 30.3 Billion KRW for Building 'Smart Ecological Factories' under Green New Deal

[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Environment announced on the 7th that it will promote the "Smart Ecological Factory Construction Project" worth a total of 30.3 billion KRW this year to support the green transition of manufacturing factories, which have a large proportion of pollution emission sources, into eco-friendly and low-carbon manufacturing factories.

The Smart Ecological Factory Construction Project has been promoted since last year to establish a green industrial innovation ecosystem, one of the three major areas of the Green New Deal.

The Ministry of Environment selected 11 companies last year to lead the project, and plans to select and support a total of 100 companies over three years, including 30 companies this year and 59 companies next year.

To achieve carbon neutrality by 2050, the Ministry of Environment newly added the greenhouse gas reduction field for public recruitment and plans to focus on selecting and supporting companies that comprehensively improve not only pollutant emission reduction but also water circulation utilization and greenhouse gas reduction.

This year, a total of 30.3 billion KRW in government funds will be provided. Selected companies can receive government funds up to 1 billion KRW within 60% of the investment cost for building eco-friendly and low-carbon facilities. In addition, if selected companies apply for the Ministry of Industry and Energy's Clean Factory Construction and Support Project and the Ministry of SMEs and Startups' Smart Factory Distribution and Expansion Project, which are collaborative projects with related ministries, they can receive additional support for related improvement projects such as facility improvements and smart equipment to enhance production process efficiency after review by the relevant ministries.

The Ministry of Environment will announce the "Selection of Support Companies for the Smart Ecological Factory Construction Project" for small and medium-sized enterprises and mid-sized companies owning manufacturing factories until the 16th of next month. A total of 30 companies will be selected through preliminary document evaluation, on-site verification, presentation evaluation, and final selection evaluation.

Kim Dong-gu, Director of Green Transition Policy at the Ministry of Environment, said, "To proactively respond to climate change and environmental crises, the green transition of manufacturing factories to eco-friendly and low-carbon is essential," adding, "Taking the Green New Deal measures as an opportunity, we will continuously support the green transition efforts of small and medium enterprises in cooperation with related ministries such as the Ministry of SMEs and Startups and establish a business foundation for carbon neutrality implementation."

This content was produced with the assistance of AI translation services.