Moon Seung-wook, Minister of Industry, "Tax and Financial Support for SMEs to Achieve Carbon Neutrality"

'2021 Korea Energy Transition Conference' Held

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government is preparing tax and financial support measures for small and medium-sized enterprises (SMEs) and mid-sized companies to achieve carbon neutrality goals.

Moon Seung-wook, Minister of Trade, Industry and Energy, announced this on the 22nd at COEX in Seoul during the '2021 Korea Energy Transition Conference' held under the theme 'Energy Transition, Change, and Innovation in the Era of Carbon Neutrality.' This two-day conference featured reviews of energy policies, markets, investments, and employment from major countries including the United States, the United Kingdom, Germany, Canada, and Australia, along with in-depth discussions on innovation measures in renewable energy, hydrogen, oil, and gas sectors.

Minister Moon stated, "At the recent 26th United Nations Climate Change Conference of the Parties (COP 26), the commitment of countries worldwide, including South Korea, to achieve carbon neutrality was reaffirmed," adding, "This conference focused on seeking practical measures for mutual growth within the new carbon-neutral economic order."

He continued, "For South Korea to achieve carbon neutrality by 2050 and greenhouse gas reduction targets by 2030, active participation from the industrial and energy sectors is essential," and announced, "We will release within this year the 'Vision and Strategy for the Great Industrial Transformation toward Carbon Neutrality' and the 'Carbon Neutral Energy Innovation Strategy,' which comprehensively cover corporate support in tax and finance, fostering new industries, stable energy supply, and job transition support."

Following this, six domestic and international experts, including Yoon Soon-jin, Chair of the Carbon Neutrality Committee, Fatih Birol, Executive Director of the International Energy Agency, and Michael Bloomberg, founder and CEO of Bloomberg LP, delivered keynote speeches. They agreed that government policy support and voluntary innovation efforts by companies are essential for carbon neutrality, and that solidarity and cooperation with the international community must be strengthened.

After the keynote speeches, sector-specific sessions were held where over 30 domestic and international carbon neutrality experts engaged in lively discussions.

An official from the Ministry of Trade, Industry and Energy emphasized, "This event is significant as a platform for communication to enhance understanding of the climate crisis and carbon neutrality, discuss the current responses and policy directions of major countries, and explore cooperation measures between nations."

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