South Korea to Allocate $1.9 Billion for Climate Technology Development in 2025
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Seoul, Dec 15 (NationPress) The South Korean government is set to invest 2.7 trillion won ($1.9 billion) in advancing technologies focused on combating climate change in the upcoming year, as stated by the science ministry on Sunday.
This investment represents a 3.9 percent increase from the 2.6 trillion won allocated to the initiative in 2024, as reported by the Ministry of Science and ICT, according to Yonhap news agency.
The funding is part of the administration's 10-year strategy to enhance scientific technologies by 2032 in response to global warming.
South Korea has committed to cut its greenhouse gas emissions by 40 percent from 2018 levels by 2030 and aims for carbon neutrality by 2050.
The budget for the next year will focus on developing essential technologies for renewable energy, including next-generation solar batteries and large-scale floating wind power systems, alongside advancing technologies for carbon neutrality such as next-generation nuclear power systems and hydrogen energy.
The government will also analyze the vulnerability of forests, marine ecosystems, and the larger environment to climate change, devising strategies for sustainable food production.
Previously, the science ministry announced that it has finalized a comprehensive roadmap for attaining carbon neutrality across various sectors, as reported by Yonhap.
The presidential special committee on carbon neutrality technologies has established strategies to reach net zero carbon emissions in six sectors, including wind energy, energy storage, and environmental conservation, according to the Ministry of Science and ICT.
With the recent guidelines for these sectors, South Korea has successfully outlined a detailed plan to enhance carbon reduction technologies across 17 domains, spanning from steelmaking and chemical industries to automotive manufacturing and nuclear power.
"Given that climate change is an undeniable reality, our pursuit of carbon neutrality is more crucial than ever," stated Ryu Kwang-jun, Vice Minister for Science, Technology and Innovation, emphasizing that the government will persist in supporting the advancement of carbon-neutral technologies.
