"Need for Incentives to Commercialize Carbon Neutral Core Technologies and Introduce New Technologies"

KCCI to Host Carbon Neutrality Seminar on 11th
Experts Propose Technological Innovation Tasks for Industrial Sector
Securing Green Hydrogen Production Technology and Building Supply Chains Are Key
Alternative Meat Industry Expected to Grow Over Fivefold by 2030

On the 11th, Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, delivered the opening remarks at the 4th Carbon Neutrality and Energy Policy Seminar held at the Sang-ui Hall International Conference Room in Jung-gu, Seoul. Photo by Korea Chamber of Commerce and Industry

[Asia Economy Reporter Choi Seoyoon] There has been a call for incentives to commercialize core technologies and introduce new technologies to achieve carbon neutrality.

The Korea Chamber of Commerce and Industry (KCCI) announced on the 11th that it held the "4th Carbon Neutrality and Energy Policy Seminar" at the International Conference Hall of the Chamber of Commerce Building in Jung-gu, Seoul, with over 200 key figures from various sectors including KCCI Chairman Chey Tae-won, government officials, businesses, academia, and civic groups in attendance.

Importance of On-site Application of Carbon Neutral Technologies... Need to Consider Linking Core and Commercial Technologies

In his opening remarks, Chairman Chey Tae-won said, "To solve the challenges of carbon neutrality and energy transition facing our society, we must spare no policy and institutional support to foster more scientific and technological innovations and creative ideas," adding, "Major countries have already expanded global climate response into their new growth engines and are actively creating climate response frameworks through science and technology policies."

He continued, "The top priority policy tasks are scientific R&D and infrastructure supply," and added, "It is necessary to seek ways for not only scientists and companies but all our citizens to participate in discussions on carbon neutrality."

Yoon Seok-jin, President of the Korea Institute of Science and Technology, who attended as the keynote speaker, stated, "Developing carbon neutrality technologies and applying them on-site are different issues, so technologies that can be used in daily life must be created," and argued, "We need to establish ways to link core technologies with commercial technologies and incentives for introducing new technologies." He emphasized, "For carbon neutrality based on science and technology, three requirements must be met: technological innovation, application and diffusion, and linkage and coordination."

Experts Present Industrial Sector Technological Innovation Tasks... Industry Calls for Rapid R&D to Secure Market Leadership

Lim Young-mok, MD of the Ministry of Trade, Industry and Energy, who spoke in the first session, explained, "The domestic conditions for carbon neutrality are very poor due to energy-intensive manufacturing, fossil fuel-based power generation structure, and low renewable energy share," adding, "If carbon neutrality is insufficiently achieved, it could pose a fatal threat to industrial growth and competitiveness, so we need to concentrate our innovation capabilities to lead carbon neutrality."

Park No-eon, Center Director of the Korea Institute of Science and Technology Planning and Evaluation, stated during the discussion, "It is time for a feasible and realistic stepwise technology development strategy," and argued, "Until 2030, the intermediate path, focus should be on upgrading existing technologies and on-site application, and thereafter, efforts should be made to gradually phase out existing technologies and commercialize and disseminate promising future technologies."

He emphasized, "International cooperation should be strengthened to secure stable eco-friendly primary and secondary fuels for carbon neutrality, and rather than simply importing low-cost overseas technologies, priority should be given to domestic technology demonstration and on-site application," adding, "It is necessary to expand green clusters between public-private or private-private sectors and establish integrated strategies based on supply and demand."

Lee Jae-yoon, Senior Researcher at the Korea Institute for Industrial Economics and Trade, pointed out, "Sophisticated policy design for technology development is important," and noted, "Key tasks include minimizing commercialization barriers linked with energy R&D progress such as zero-carbon energy supply infrastructure systems, supplementing carbon pricing policies effective for high-cost reduction technologies, and clarifying the roles of public and private sectors in technology development."

There was also a call from the industry for the government’s swift decision-making at the technology R&D stage. Lee Sang-ho, Research Fellow (Executive Director) at POSCO Research Institute, argued, "In large-scale R&D investments, global competition for technological supremacy is intensifying, but we hesitate considering procedural legitimacy," and stated, "Government support at the commercialization stage may cause future trade issues, but government support at the R&D stage is internationally recognized, so rapid R&D promotion is necessary to secure future market leadership."

Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry (fifth from the left) is taking a commemorative photo with key attendees. Photo by Korea Chamber of Commerce and Industry

Global Attention on Hydrogen Energy Utilization... Securing Green Hydrogen Production Technology and Building Hydrogen Supply Chains Are Key

In the second session, Dr. Jung Ki-seok of the Korea Energy Technology Evaluation Institute explained, "Recently, 46 countries including the EU have announced or are establishing hydrogen strategies. The U.S. plans to invest over 13 trillion won in hydrogen production technology development and clean hydrogen supply chain construction, and China has designated hydrogen as one of the six future industries, focusing on securing green hydrogen production technology," adding, "Hydrogen energy is a powerful means to connect the missing link between decarbonization and electrification, and is expected to have industrial ripple effects comparable to the invention of the steam engine or internal combustion engine."

He also presented four major strategies for the hydrogen economy: ▲ Establishing domestic and international clean hydrogen production systems ▲ Building seamless supply infrastructure including hydrogen distribution, pipelines, and charging stations ▲ Expanding hydrogen utilization in all daily life aspects such as hydrogen power generation, hydrogen mobility diversification, and industrial sector hydrogen application technologies ▲ Strengthening ecosystem foundations such as technology development, workforce training, and standards development.

There was also an industry voice lamenting the practical limitations of hydrogen production in Korea. Lee Seung-hoon, Head of the Hydrogen Convergence Alliance Industry Division, who participated as a discussant, argued, "Korea’s renewable energy generation costs are very high, so the price of green hydrogen produced using renewable energy is inevitably high," and stated, "It is necessary to actively consider building hydrogen production bases overseas where green hydrogen can be produced cheaply and importing it."

Alternative Meat Industry Expected to Grow More Than Fivefold by 2030... Need to Develop Materials Suited to Korean Taste

In the third session, Lee Mi-kyung, CEO of the Environmental Foundation, quoted Daniel Kahneman, an emeritus professor at Princeton University and psychologist, saying, "Humans are not logical robots but beings who respond to incentives and are driven by emotions," and argued, "To lead nationwide participation in carbon neutrality, it is necessary to strengthen carbon reduction incentive systems along with campaign education."

She added that Elon Musk, who experienced a winner-takes-all effect through electric vehicles, is now hosting the XPRIZE Carbon Removal competition with a prize of 130 billion won, which can be seen as his determination to once again secure the future market through carbon capture technology, emphasizing the speed of technology development.

Park Mi-sung, Research Fellow at the Korea Rural Economic Institute, stated during the discussion, "With the continuous increase in greenhouse gas emissions from the livestock sector due to a diet centered on animal protein, the market size of the meat alternative industry including cultured meat, plant-based meat, and insect raw materials is expected to grow from the current 39 trillion won to 214 trillion won by 2030, more than 400% growth," and argued, "It is necessary to consider fostering alternative food materials domestically that suit Korean tastes, as the current dependence on imports is high."

Lim Jae-min, Secretary General of the Energy Transition Forum, representing the younger generation as a discussant, argued, "Not all citizens are yet experiencing the climate crisis at the same level," and stated, "For all citizens to empathize with and participate in carbon neutrality, economic sustainability through job creation along with environmental sustainability must be considered."

Woo Tae-hee, Executive Vice President of the Korea Chamber of Commerce and Industry, said, "Since April this year, KCCI has held four seminars, and we will organize the tasks discussed by experts, industry, and government stakeholders by sector and propose them to the government at the December seminar."

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