Legislation designed to bolster the carbon capture, utilization, and storage (CCUS) sector will be implemented this week, the government of South Korea announced last week.
This move comes as the need for environmentally sound solutions to combat the climate crisis intensifies.
A new law supporting the advancement and expansion of carbon capture technologies will be in force, as confirmed by the Ministry of Trade, Industry and Energy.
The legislation outlines procedures for CCUS operations, including the selection of potential offshore carbon storage sites and the management of related infrastructure.
It also details support mechanisms for companies operating within this field, the ministry stated.
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A government representative commented that the CCUS law provides the necessary administrative and financial framework to advance carbon capture solutions and promote industry growth.
The new law also facilitates the nation’s commitment to its 2030 emissions reduction targets.
South Korea has committed to lowering its greenhouse gas emissions by 40% compared to 2018 levels by 2030, with the ultimate goal of achieving net-zero emissions by 2050.
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