Korea Holds Greenhouse Gas Reduction Meeting with 10 Countries in Busan

Ministry of Trade, Industry and Energy & KOTRA Hold 'Global Net Zero Connection'
Discussion and Consultation on International Greenhouse Gas Reduction Cooperation

The Ministry of Trade, Industry and Energy and KOTRA announced on the 10th that they held the 'Global Net Zero Connection in Korea' event for two days starting from the 9th at the Park Hyatt Busan. They discussed establishing a greenhouse gas reduction cooperation system with 10 countries including Bangladesh, Indonesia, and Thailand, and supported the discovery of greenhouse gas reduction projects by Korean companies.

At the event, government officials responsible for greenhouse gas reduction from 10 countries attended to discuss ways to establish a reduction cooperation system with Korea. The Ministry of Trade, Industry and Energy and KOTRA plan to conduct follow-up bilateral cooperation discussions with participating countries at the 28th United Nations Climate Change Conference of the Parties (COP28) starting at the end of this month.

Jung Wooyoung, head of KOTRA, delivering the opening address at the 'Global Net Zero Connection in Korea' event held at Park Hyatt Busan on the 9th and 10th. Government officials from the Ministry of Trade, Industry and Energy and 10 countries including Bangladesh, Indonesia, and Thailand attended the event.
[Photo by KOTRA]

In addition to intergovernmental channel cooperation, programs allowing corporate participation were also conducted. On the first day of the event, participants from each country shared their national greenhouse gas reduction activity demands. International organizations and research institutes related to international greenhouse gas reduction such as the Green Climate Fund (GCF), International Renewable Energy Agency (IRENA), United Nations Industrial Development Organization (UNIDO), and Korea Development Institute (KDI) attended to disseminate international greenhouse gas reduction cooperation cases to governments and companies of each country.

On the second day, a partnering consultation meeting was held with over 120 sessions between 40 companies in the international greenhouse gas reduction sector and 27 overseas governments and companies to discover new international greenhouse gas reduction projects.

The Ministry of Trade, Industry and Energy and the Ministry of Environment, Forest and Climate Change of Bangladesh are taking a commemorative photo together with the Global Net Zero Cooperation Declaration.
[Photo by KOTRA]

Kim Wanki, Director of Trade and Investment at the Ministry of Trade, Industry and Energy, said, "We will expand support for international greenhouse gas reduction projects to achieve the 2030 Nationally Determined Contribution (NDC) and to activate international greenhouse gas reduction projects by Korean companies," adding, "We will accelerate the establishment of a bilateral cooperation system."

Jung Wooyoung, Head of KOTRA, said, "We will hold the event annually to establish it as a platform for international greenhouse gas reduction exchanges between Korea and major partner countries."

KOTRA, together with the Ministry of Trade, Industry and Energy and the Korea Energy Agency, has been conducting a pilot project for international greenhouse gas reduction since February to achieve the greenhouse gas reduction target of 37.5 million tons in the overseas reduction sector. Four projects were selected in September. Next year, support for international reduction projects by Korean companies will be expanded.

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