The Ministry of Science and ICT has announced the official launch of the "CCU Mega Project," which aims to reduce greenhouse gases using Carbon Capture & Utilization (CCU) technology. The project kicked off on June 19 with a call for the selection of a demonstration site.
CCU technology captures carbon dioxide emitted from power generation and industrial processes and converts it into useful materials. The rapid deployment of this technology is essential to achieving the national greenhouse gas reduction target by 2030. To support this goal, the Ministry unveiled the "Advanced Carbon Capture & Utilization Technology Strategy" last December, focusing on the early commercialization of CCU technology.
CCU technology has faced high technical difficulty and low economic feasibility, hindering its commercialization. The CCU Mega Project aims to create successful cases through joint public-private demonstrations, promoting the widespread adoption of CCU technology in the private sector.
To ensure fairness and objectivity in the selection process, an evaluation committee composed of experts will be operated. The committee will evaluate the suitability of the site and the specificity of the demonstration plan to select the final demonstration site.
Vice Minister Chang-Yoon Lee of the Ministry of Science and ICT stated, "CCU technology is a key means to achieve carbon neutrality. We will achieve the national greenhouse gas reduction target without fail and enhance the carbon neutrality response capability of the domestic industry through successful implementation of the CCU Mega Project based on cooperation with related companies."