Achieving Carbon Neutrality and Future Food Solutions at Once... Climate Tech Forum Held

Sangui, Tannokwi, and Seoul National University Jointly Host 'Climate Tech Forum'

Seoul Jung-gu Korea Chamber of Commerce and Industry. / Photo by Jinhyung Kang aymsdream@

Companies passionate about climate tech, one of the key solutions for achieving Korea's 2050 carbon neutrality, gathered in one place.

The Korea Chamber of Commerce and Industry (KCCI) held the '2023 Climate Tech Forum' on the afternoon of the 16th at the Chamber of Commerce building, jointly with the 2050 Carbon Neutral Green Growth Committee and Seoul National University Climate Tech Center.

This event was organized to provide networking opportunities for companies in order to expand investment and markets related to climate tech and to establish an industrial foundation. Attendees included climate tech companies, investors, government officials, academic experts, citizens, and youth from various sectors.

Climate tech refers to innovative technologies that reduce carbon emissions to respond to the climate crisis, ranging from renewable energy such as solar and wind power to climate forecasting, eco-friendly recycling technologies, and food tech including cultured meat and cooking robots. A representative example of climate tech is the technology to capture carbon dioxide from the atmosphere, for which Elon Musk, CEO of Tesla in the U.S., offered a $100 million prize.

As the need to respond to the climate crisis grows, related industries are rapidly expanding every year. Investment in climate tech companies reached $53.7 billion in 2021, nearly eight times the $6.6 billion in 2016. Boston Consulting Group analyzed that the global cumulative market size of climate tech will reach $45 to $60 trillion by 2050. Currently, there are 83 global climate tech unicorn companies valued at over 1 trillion KRW, but none are Korean companies yet.

Chairman Kim Sang-hyup said in his opening remarks, "Climate tech is gaining attention as a core technology in the climate crisis and a new industry that generates profits," adding, "As the market grows rapidly, we will do our best to build a living industrial ecosystem and support successful creative technology development. That is the spirit of green growth."

In his congratulatory speech, Woo Tae-hee, Executive Vice President of KCCI, said, "While discussions on carbon neutrality in general are important, it is a time when more consideration of climate tech is needed," and added, "I hope this forum will show that our companies are leading the achievement of carbon neutrality and demonstrate the potential of climate tech as a new growth engine."

The forum featured thematic presentations and panel discussions. Professor Jung Soo-jong of Seoul National University explained the concept of climate tech, which may still be unfamiliar, in an easy-to-understand way. Hong Soo-kyung, Director of the Energy Technology Division at the Ministry of Trade, Industry and Energy, presented the government's plans to foster climate tech. Je Hyun-joo, CEO of Envisioning Partners, and Kim Nok-young, Head of the Carbon Reduction Certification Center at KCCI, gave presentations on climate tech investment and the current status of the Voluntary Carbon Market (VCM), respectively.

Following the presentations, a discussion took place. MBC reporter Hyun In-ah served as the moderator, and Kim Jong-gyu, CEO of SixtyHertz, and Cho Jung-hoon, Head of the ESG Division at Shinhan Bank, along with the presenters, discussed ideas to activate climate tech based on a survey conducted in advance among forum participants.

Notably, the forum also featured exhibition booths showcasing companies' products and services, attracting attendees' attention. In addition to the previously mentioned cases, five companies demonstrated innovative technologies, including Intocore Technology, which uses plasma to convert landfill gas into methanol; SixtyHertz, which provides an integrated renewable energy control system; and Weatherpia, which visualizes weather information using artificial intelligence (AI) and augmented reality (AR).

KCCI also explained the role of its Carbon Reduction Certification Center in an easy-to-understand manner at its booth and introduced new and diverse cases of companies applying for carbon reduction certification, such as StarsTech, which produces eco-friendly de-icing agents from starfish found in the ocean, and LD Carbon, which produces eco-friendly materials and recycled oil by pyrolyzing waste tires.

To ensure that this forum is not a one-time event but functions as a platform for continuously seeking private-sector solutions, KCCI signed a business agreement with Seoul National University Climate Tech Center. The two organizations plan to hold the forum regularly and develop and implement various projects such as consulting and educational programs for climate tech companies.

Jo Young-jun, Director of Sustainable Management at KCCI, said, "In addition to the industrialization of Korean cuisine, KCCI plans to expand the scope of national development projects such as climate tech and continuously discover tasks, so we ask for the interest and support of companies and the public."

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