Government Supports Carbon Neutrality in Petrochemicals... Launches Large-Scale R&D Projects
[Sejong=Asia Economy Reporter Kwon Haeyoung] The government is promoting a large-scale research and development (R&D) project to achieve carbon neutrality in the petrochemical sector.
On the 9th, the Ministry of Trade, Industry and Energy held the launch ceremony and meeting of the "Petrochemical Carbon Zero Committee" at the SK Environmental Science and Technology Institute, discussing such plans with the Korea Petrochemical Industry Association, petrochemical companies, and related experts.
The petrochemical industry emits 71 million tons of greenhouse gases annually, ranking second in domestic manufacturing after steel (111.7 million tons annually). Developing eco-friendly manufacturing technologies that utilize hydrogen, carbon, bio, renewable energy, and waste plastics as raw materials and fuels is urgently needed more than in any other industry.
For this reason, SK is researching methods to recycle waste plastics by pyrolysis into petrochemical raw materials and fuels. They plan to test the feasibility of using pyrolysis oil from waste plastics in actual petrochemical processes within this year.
The Ministry of Trade, Industry and Energy plans to actively support petrochemical companies by planning large-scale R&D projects, while also promoting ▲operation of carbon-neutral industrial transition governance ▲establishment of carbon-neutral industrial transformation strategies ▲enactment of special laws for carbon-neutral industrial structure transition ▲promotion of large-scale R&D projects ▲support through tax, finance, and regulatory exemptions.
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Park Jin-gyu, Vice Minister of the Ministry of Trade, Industry and Energy, stated, "Carbon neutrality is no longer a choice but a necessity," and added, "We will actively support the planning of large-scale R&D projects related to the development of eco-friendly manufacturing technologies in petrochemicals."
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