Korea-Malaysia Begin Full-Scale Cooperation in 'Carbon Capture and Storage' Sector

Ministry of Industry Holds Meeting with Deputy Secretary-General of Malaysia's Ministry of Economy at 'Shepherd CCS Summit'

The Ministry of Trade, Industry and Energy announced that on the 10th, Choi Yeon-woo, Director General of Energy Policy, held a meeting with Lukman Ahmad, Deputy Secretary General of the Malaysian Ministry of Economic Affairs, at the Shilla Hotel in Jangchung-dong, Seoul, to discuss cooperation measures in the field of carbon dioxide capture and storage (CCS) between Korea and Malaysia.

This meeting took place on the occasion of the 'Shepherd CCS Summit' hosted by Samsung E&A, attended by officials from the relevant ministries responsible for CCS policies of both countries.

Director General Choi emphasized the importance of CCS to achieve the Nationally Determined Contributions (NDCs) and requested active interest and support from the Malaysian Ministry of Economic Affairs to ensure the smooth progress of the 'Shepherd CCS Project,' jointly promoted by domestic and international companies, so that it can establish itself as a leading global CCS project.

According to the Ministry of Trade, Industry and Energy, both countries agreed on the necessity of concluding an agreement on cross-border transportation and storage of carbon dioxide between Korea and Malaysia. To this end, they confirmed that discussions between the two governments will proceed, taking into account the institutional conditions of both countries and relevant international conventions.

On the day, the Ministry introduced 'Korea's CCS Industry Promotion Policy,' reiterating plans to secure core technologies and personnel, foster specialized companies, create an initial market through securing domestic and overseas storage sites, and promote the establishment of a sustainable growth ecosystem.

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