Preliminary Feasibility Study for 6.7 Trillion KRW 'Carbon Neutral Technology Development' in Carbon-Intensive Industries like Steel

Industrial Sector Carbon Neutrality R&D Planning Committee... Applications Open Next Month

Ministry of Industry: "Existing R&D Projects and New Non-Preliminary Feasibility Study Projects Will Also Be Extensively Promoted"

Carbon Neutrality Core Industrial Technology Development Project (Draft).

[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Trade, Industry and Energy announced on the 25th that it held the Ministry's Carbon Neutrality Research and Development (R&D) Planning Committee at the LW Convention Center in Seoul and prepared a preliminary feasibility study plan for the 'Carbon Neutrality Core Industrial Technology Development Project,' a national R&D project worth 6.7 trillion KRW.

This preliminary feasibility study plan was derived through extensive surveys of industry demands, including sector-specific task forces, sector-specific carbon neutrality committees, technology demand surveys, and industry meetings, as the first phase of technology development from 2023 to 2030 to achieve carbon neutrality by 2050, followed by in-depth reviews by experts from industry, academia, and research institutes.

By sector, ▲Steel industry plans 1 trillion KRW for 10 strategic tasks including hydrogen reduction steelmaking and ultra-high-speed electric furnace development ▲Petrochemicals plans 1.8 trillion KRW for 20 strategic tasks including electric heating naphtha cracking process and bio-based raw material development to replace naphtha ▲Cement plans 900 billion KRW for 9 strategic tasks including carbonate and other high-carbon raw material replacement technologies and zero-carbon new heat source technologies ▲Semiconductor and display plans 900 billion KRW for 10 strategic tasks including alternative gas technologies for etching, deposition, and cleaning processes. Additionally, the textile sector plans to develop technologies worth 180 billion KRW, and the non-ferrous metals sector plans 310 billion KRW. The automotive (170 billion KRW), shipbuilding (140 billion KRW), paper (170 billion KRW), and glass (160 billion KRW) industries also have planned technology development projects for carbon-neutral process innovation.

The Ministry of Industry plans to apply for the preliminary feasibility study to the Ministry of Science and ICT (Science and Technology Innovation Headquarters) in early September. Furthermore, carbon neutrality technologies not included in this preliminary feasibility study plan will also be extensively promoted through existing R&D projects and new non-preliminary feasibility study projects.

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