Prime Minister Han Duck-soo expressed confidence on the 24th that "carbon neutrality will serve as a new opportunity for South Korea to advance on the global stage" and urged the discovery and nurturing of startups with challenging and innovative technologies through public-private collaboration.

As co-chair of the Presidential Commission on Carbon Neutrality and Green Growth for 2050, Prime Minister Han spoke at the launch ceremony of the national carbon-neutral project "Net Zero Challenge X," held at D-Camp in Mapo-gu, Seoul.

The "Net Zero Challenge X" follows the government’s March announcement of a green funding plan exceeding 450 trillion KRW by 2030, aiming to promote collaboration between technology and finance. Starting next year, companies and institutions with expertise in startup incubation and investment will select and support startups in the fields of carbon neutrality and climate technology.

Prime Minister Han stressed, “Achieving carbon neutrality and green growth requires exceptional efforts from both government and the private sector. We need to expand investment in science, technology, and creative capabilities alongside supportive policies and systems.” He highlighted the need to “identify and nurture startups with bold, innovative technologies.”

The 29 participating organizations signed a joint Memorandum of Understanding (MOU) to commit to fostering carbon neutrality and climate technology startups through collaboration between technology and finance, with a shared aim to achieve net zero by 2050 and enhance national competitiveness.

Following the MOU signing and the launch ceremony, a roundtable on supporting carbon neutrality and climate technology startups was hosted by Prime Minister Han. Representatives from five startups—ThanksCarbon, HEMT, VPPLab, WeMeat, and REVATION—alongside five participating institutions and investors such as SK Telecom, LG Science Park, the Banks Foundation for Young Entrepreneurs, Envisioning Partners, and Smilegate Investment, attended the session.

Attendees discussed the smooth implementation of major carbon neutrality policies, such as the Basic Electricity Supply Plan, and requested stronger support for research and development (R&D), commercialization, and early-stage funding to help climate technology startups grow their businesses sustainably.

During the discussion, Prime Minister Han noted, “Next year, we need to establish an updated Nationally Determined Contribution (NDC) target for 2035, and from 2026, the Carbon Border Adjustment Mechanism (CBAM) will come into full effect. The global demand for carbon neutrality is becoming increasingly prominent and visible.”

He further emphasized that “considering our nation’s manufacturing-based economy and the challenges in renewable energy infrastructure, innovation in science and technology and a creative spirit in startups that can commercialize these solutions are essential for driving meaningful change.”

https://www.etnews.com/20240924000277