"Sharing Carbon Neutral Technology Achievements"... Launch of Korea's First Grand Consortium

On the 5th, the "Carbon Neutral Grand Consortium Launch Ceremony" was held at the Grand Ballroom of the Four Seasons Hotel in Jongno, Seoul, attended by Byun Young-man, Chairman of the Korea Metal Materials Research Association; Song Yoo-jong, Vice Chairman of the Korea Petrochemical Industry Association; Bae Pan-sul, Executive Director of the Korea Cement Association; Kim Jung-hoe, Vice Chairman of the Korea Semiconductor Industry Association; Ryu Jin-ho, Group Leader of POSCO; and Kim Noma, Director of LG Chem.

As the government has started investing 41 billion KRW this year to develop carbon-neutral technologies, the 'Carbon Neutral Grand Consortium,' which shares technological development achievements across industries, has been launched.

On the 5th, the Ministry of Trade, Industry and Energy held the launch ceremony of the Carbon Neutral Grand Consortium at the Four Seasons Hotel in Seoul, centered on associations and organizations from the four major industries: steel, petrochemicals, cement, and semiconductors & displays. The consortium is the first attempt in Korea to establish a mutual cooperation system that promotes the exchange and dissemination of carbon-neutral technologies across the entire industry, including companies not participating in the carbon-neutral technology development projects.

At the launch ceremony, companies participating in the carbon-neutral technology development projects such as POSCO (steel), LG Chem (petrochemicals), Ssangyong C&E (cement), and Wonik Materials (semiconductors) signed a business agreement together with the associations and organizations of the four major industries.

Jang Young-jin, the 1st Vice Minister of the Ministry of Trade, Industry and Energy, stated at the ceremony, "The government will support not only the development of carbon-neutral technologies but also invest more than 80% of the total project cost into demonstration by 2030 to enable immediate utilization of development outcomes on-site." The government also plans to proceed with tax and loan support, regulatory improvements, and international joint research, including designating new growth and core technologies in the carbon-neutral field under the Restriction of Special Taxation Act.

Previously, the government decided to support a total of 935.2 billion KRW from this year until 2030 for carbon-neutral technology development in the four major industries: petrochemicals, cement, semiconductors & displays. Support will focus on 'direct emission reduction technologies' with high carbon reduction effects by industry, with 209.7 billion KRW for steel, 185.8 billion KRW for petrochemicals, 282.6 billion KRW for cement, and 257.1 billion KRW for semiconductors & displays.

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