Passage of CCUS Act in National Assembly: "Establishing Basis for Technology Development and Industry Promotion Support"

The bill for the "Act on Carbon Dioxide Capture, Transport, Storage, and Utilization" was passed by the National Assembly plenary session on the 9th. The CCUS Act was proposed to establish a legal foundation necessary for responding to the climate crisis and fostering the CCUS industry.

Major advanced countries such as the United States and the European Union (EU) recognize carbon dioxide capture, transport, storage, and utilization technologies as key means to achieve carbon neutrality and have enacted and operated related laws to nurture these as new industries. However, in South Korea, CCUS-related regulations are scattered across more than 40 individual laws, raising the need for the enactment of an integrated law.

On the 9th, the National Assembly plenary session passed the "Special Act on Ending the Breeding, Slaughter, and Distribution of Dogs for Food Purposes." Photo by Hyunmin Kim kimhyun81@

The CCUS Act systematically stipulates processes essential for greenhouse gas reduction, such as the selection and announcement of storage candidate sites and the permitting of storage projects, securing and operating carbon dioxide storage facilities. It also includes various provisions aimed at fostering the growth base of the CCUS industry, such as special cases for carbon dioxide supply, certification of specialized companies, and technology certification, as well as support for corporate research and development (R&D), startups, and discovery of new industries. Furthermore, it establishes grounds for nurturing specialized personnel, international cooperation, and technology standardization necessary for related technology development and industrial revitalization.

Choi Yeon-woo, Director of Energy Policy at the Ministry of Trade, Industry and Energy, stated, "With the enactment of the CCUS Act, we have established administrative and financial support grounds for contributing to carbon neutrality and fostering CCUS-related technology development and industry growth," adding, "We will ensure that subordinate statutes are prepared without delay in line with the enforcement of the law." The CCUS Act is scheduled to be promulgated after government transmission and Cabinet approval, and will be fully enforced one year after promulgation.

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