SEOUL, Korea, 17, Jan. (Korea Bizwire) – Korea Institute of Environmental Technology & Industry (KEITI) under the Ministry of Environment (MOE) announced on the 16th that it will provide the environmental policy fund of 182.5 billion KRW to help business stabilization of small- and medium-sized enterprises (SMEs) in the field of environment.
The fund hits record high, which is 35% increase from 135 billion KRW last year. By category, recycling industry upbringing fund is 75 billion KRW, environmental improvement fund 50 billion KRW, environmental industry upbringing fund 45.5 billion KRW and harmful chemicals treatment facility improvement fund12 billion KRW.
Environmental industry upbringing fund has increased by over two folds from 14 billion KRW last year to 45.5 billion KRW this year, which will finance SMEs. The fund recipients are environmental business, environmental facility manufacturer, and business designated as green store. The support fund will be used to produce, purchase and install construction material, device and equipment.
Recycling industry upbringing fund and environmental improvement fund have expanded by 2 billion KRW to 75 billion KRW and 50 billion KRW respectively. The recycling industry upbringing fund will go to the companies who acquired certificate and permission of recycling waste for supporting costs resulted from recycling device, equipment and facility. Yet, the business that manufactures goods using recycled products are not subject to the fund.
Environmental improvement fund can benefit SMEs in all sectors including the environment and it help install pollution prevention facilities such as water pollution prevention facility and smokestack tele-monitoring system.
Along with above funds, harmful chemicals treatment facility improvement fund is newly created. As a series of chemical accidents raise concerns over the public health, KEITI set up the fund to help improve the environment of companies that treat harmful chemicals.
It is notable that KEITI also expanded the target of policy support fund by enhancing fund operation.
KEITI will hold the ‘2014 Environmental Policy Fund Briefing’ on the 23rd at Korea Federation of SMEs, Seoul. The institute will have one-on-one meeting with the companies to answer to their questions.
SOURCE : Ministry of Environment via Korea.net