South Korea Aims to Allocate $59.3 Million for Climate Technology Development in 2025

Seoul, Jan 8 (NationPress) South Korea is preparing to invest 86.2 billion won (equivalent to $59.3 million) this year to foster the development of technologies designed to combat climate change, according to a statement from the science ministry on Wednesday.

The Ministry of Science and ICT has outlined that this investment will focus on creating technologies that respond to global warming, as well as those associated with carbon-free energy and climate forecasting utilizing artificial intelligence (AI), as reported by the Yonhap news agency.

Specifically, the government plans to allocate 5.7 billion won towards developing carbon-free energy technology and 4.3 billion won for enhancing carbon capture and utilization technologies.

Additionally, an investment of 3.1 billion won will be directed towards creating an AI-based climate prediction model aimed at forecasting climate-related disasters and mitigating potential damages.

Another 4.02 billion won will support two global initiatives focused on researching and developing technologies for carbon neutrality.

This funding is part of the government's comprehensive 10-year plan to advance scientific technologies by 2032 in response to global warming.

South Korea has committed to reducing its greenhouse gas emissions by 40 percent from 2018 levels by 2030 and aims to achieve carbon neutrality by 2050.

The budget for next year will support the development of essential technologies for renewable energy, such as next-generation solar batteries and large-scale floating wind power systems, alongside advancements in carbon neutrality technologies, including next-generation nuclear power systems and hydrogen power.

The government will also undertake assessments of the vulnerabilities of forests and marine ecosystems to climate change and formulate strategies to ensure stable food production.

Previously, the science ministry announced the completion of a comprehensive roadmap aimed at achieving carbon neutrality across various industries, as reported by Yonhap.

The presidential special committee on carbon neutrality technologies has developed strategies to attain net zero carbon emissions in six sectors, including wind energy, energy storage, and environmental protection, according to the Ministry of Science and ICT.