Customized Equipment Support for Carbon Neutrality... Government "Recruiting Participating SMEs"

Support Scale, Around 100 Companies... Twice Last Year
Up to 300 Million KRW Support Per Company

The Ministry of SMEs and Startups announced on the 13th that it will recruit participating companies for the '2024 Small and Medium Enterprise Carbon Neutral Transition Support Project' from the 19th of this month until the 8th of next month.

Oh Young-joo, Minister of SMEs and Startups, is delivering opening remarks at the SME and Startup R&D Future Strategy Roundtable held on the 31st of last month at the Kensington Hotel in Yeongdeungpo-gu, Seoul.
[Photo by Yonhap News]

The Carbon Neutral Transition Support Project is conducted to support small and medium enterprises' investment in carbon reduction facilities, creating leading cases of low-carbon process transition and spreading the atmosphere of carbon neutrality. It provides a one-stop package support including detailed design and introduction of carbon reduction facilities for small and medium enterprises that are not subject to domestic carbon reduction regulations.

The recruitment targets are divided into the Basic Track and the Advanced Track. Both tracks support up to 300 million KRW per company. The subsidy rate is up to 50% for the Basic Track and up to 70% for the Advanced Track. Companies engaged in high carbon-emitting industries such as primary metal manufacturing, fabricated metal product manufacturing, and non-metallic mineral product manufacturing will be given additional points and preferential treatment.

The support scale is about 100 companies, double that of last year. For companies participating in the Advanced Track, the plan is to add companies participating in the Korea Technology Finance Corporation's Net-Zero Members. Net-Zero Members is a carbon-neutral enterprise development program that supports low-carbon innovative growth for companies with excellent technology.

Kim Woo-soon, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, said, "Small and medium enterprises need to actively prepare for the carbon-neutral era due to not only overseas carbon-related trade barriers but also the national greenhouse gas reduction target (NDC). We will continue to support the carbon-neutral transition of small and medium enterprises, which relatively lack personnel, capital, and information to respond to domestic and international carbon-related systems."

For more details, please check the ESG Integrated Platform.

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