SEOUL, Aug. 31 (Korea Bizwire) — South Korea plans to spend about 12 trillion won (US$10.3 billion) next year on reducing greenhouse gas emissions and responding to the climate crisis to pursue carbon neutrality, the government said in its 2022 budget plan released Tuesday. The plan calls for allocating 8.3 trillion won to low-carbon projects [...]
SEOUL, Aug. 5 (Korea Bizwire) — The presidential committee on carbon neutrality announced Thursday three policy road maps to achieve the goal of eliminating South Korea’s greenhouse gas emissions by 2050, subject for deliberation by experts and stakeholders until later this year. President Moon Jae-in announced in October that the country will seek to go [...]
SEOUL, May 29 (Korea Bizwire) — South Korea established a presidential committee Saturday to serve as the control tower of the nation’s carbon neutrality drive. President Moon Jae-in said the government-private panel would be a “pivot” in uniting national efforts to achieve net-zero emissions by 2050. He admitted that it would not be easy for [...]
SEOUL, May 27 (Korea Bizwire) — South Korea said Thursday it plans to allocate 90 billion won (US$80.6 million) by next year to carry out research and development projects for electrofuel, in line with its vision to go carbon neutral by 2050. Electrofuel refers to an environment-friendly energy source that can be used in traditional [...]
SEOUL, May 13 (Korea Bizwire) — Over a dozen Swedish companies doing business in South Korea launched a “green” alliance Thursday to commit themselves to a set of carbon-reducing goals in support of Seoul’s green policy drive. The South Korea-Sweden Green Transition Alliance brings together 13 Swedish companies, including furniture giant IKEA, to take part [...]
London, April 27 (Korea Bizwire) – VistaJet commits to carbon neutrality by 2025 and spearheads the call for change — working with, and pushing, the industry to go further than the current goal of a 50% reduction of emissions by 2050 set by civil aviation industry bodies, IATA and the global business aviation community. Aviation plays a crucial [...]
SEOUL, March 31 (Korea Bizwire) — South Korea said Wednesday it aims to acquire core technologies in eco-friendly energy sectors, such as highly-efficient solar panels and large-scale wind turbines, to reach carbon neutrality by 2050. Last year, South Korea unveiled its carbon neutrality goal to reduce reliance on fossil fuels and nurture eco-friendly industries. Under [...]
SEOUL, March 9 (Korea Bizwire) — South Korea on Tuesday launched a new committee with business groups from chip and display industries aimed at cutting emissions of greenhouse gases, in line with the country’s vision to go fully carbon neutral by 2050. Under the ties with the Korea Semiconductor Industry Association and the Korea Display [...]
SEOUL, March 1 (Korea Bizwire) — Vowing for carbon neutrality by 2050, the steel industry is scrambling to develop hydrogen reduction iron and steel production technology. POSCO, the world’s fifth-largest steelmaker by output, recently joined hands with Hyundai Motor Group to develop steel production technology that uses hydrogen instead of coal to produce iron. The [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korean petrochemical companies said Tuesday they will join the country’s green energy drive, which centers on achieving carbon neutrality by 2050. The country launched a new committee on achieving carbon neutrality under ties with the private sector, according to the Ministry of Trade, Industry and Energy. The Moon [...]