The Ministry of Science, ICT and Future Planning (MSIP) announced on August 6 that it would invest 51.6 billion won to develop new technologies to counter climate change. (image: Kobiz Media / Korea Bizwire)
SEOUL, August 7 (Korea Bizwire) – To cut carbon emissions that affect climate change, the Korean government will spur the development of core technologies including carbon capture and sequestration (CCS), solar cells and fuel cells.
The Ministry of Science, ICT and Future Planning (MSIP) announced on August 6 that it would invest 51.6 billion won to develop new technologies to counter climate change. In addition to the CCS and solar and fuel cells, it will develop technologies related to bioenergy, secondary batteries, and electricity IT.
In the CCS sector, the MISP will drive forces to develop carbon capture technologies in various ways, including wet process, dry process and gas separation, to bring forward their commercialization. To demonstrate the technologies, it will construct an underground storage area that can hold up to 10,000 tons of CO2 at Pohang.
At Jincheon County, North Chungcheong Province, the ministry will set up an “eco-friendly energy town” that will cover all of its energy needs through various renewable energy technologies and convergence solutions, including photovoltaic and solar energy, fuel cells, thermal energy, and wasted heat recovery.
In addition, to overcome fierce competition in the silicon photovoltaic solar cell market, the ministry will secure original technologies for next generation solar cells, including perovskite and organic solar cells.
Moreover, it will carry forward the development of next generation fuel cell projects, including solid alkali fuel cells that can expand generation efficiency by 1.5 times and lifespan by 2 times compared to existing fuel cells.
An official at the science ministry said, “In the situation that every country is reinforcing their policies to cut carbon emissions, we cannot properly counter the matter without technological innovation. By developing these technologies, we can reduce our burden in cutting CO2 emissions, and find new growth engines to advance into global markets.”
By M. H. Lee (mhlee@koreabizwire.com)
