In a significant step towards achieving carbon neutrality, the Ministry of Science and ICT (MSIT) announced on Oct. 22 the final results of the site selection competition for the “CCU Megaproject” (tentative name). This project aims to develop and demonstrate large-scale carbon capture and utilization (CCU) technology, which is crucial for reducing greenhouse gas emissions.
The selected sites for the CCU Megaproject include Yeosu in South Jeolla Province, Seosan in South Chungcheong Province, Gangneung and Samcheok in Gangwon Province, Pohang in North Gyeongsang Province, and Boryeong in South Chungcheong Province. These locations were chosen after a rigorous competition held from June 19 to July 19 this year, which saw 27 consortia proposing various sites for the demonstration of CCU technology.
CCU technology captures carbon dioxide emitted from power generation and industrial processes and converts it into useful substances such as methanol, olefins, and ethylene carbonate. This technology is seen as a key strategic means to achieve carbon neutrality, with major countries like the United States, the United Kingdom, and Japan already investing heavily in its development.
The MSIT’s announcement follows the confirmation of the “Carbon Dioxide Capture and Utilization Technology Advancement Strategy (draft)” by the Carbon Neutral Technology Special Committee of the National Science and Technology Advisory Council in December last year. The project aims to build facilities and promote demonstration research and development (R&D) by forming a full-cycle value chain for CCU technology.
The selected sites include the area near the GS Caltex 2nd Plant in Yeosu, the site within the Hanwha TotalEnergies business area in Seosan, sites in Gangwon such as Halla Cement, Sampyo Cement, and East-West Power, the site within Pohang Steelworks in Pohang, and the coal storage site of Korea Midland Power in Boryeong. These locations were chosen through on-site investigations and evaluations by a selection evaluation committee.
Vice Minister Lee Chang-yoon of the MSIT emphasized the importance of overcoming the economic challenges associated with CCU technology. “Despite the importance of CCU technology in achieving carbon neutrality, there has been a lack of commercialization models due to low economic feasibility. We hope to overcome these limitations and spread the technology to the private sector by creating successful cases through this project,” he stated.
The full-scale project is expected to launch starting in 2026, following a preliminary feasibility study. The MSIT will supplement and revise the research and development tasks based on the selected sites and demonstration details.
This initiative is part of South Korea’s broader efforts to address climate change and meet its carbon neutrality goals. The country’s industrial landscape, which is heavily manufacturing-centric, contributes significantly to carbon dioxide emissions, making the development of CCU technology particularly crucial.
The global urgency to address climate change has led to various commitments by countries worldwide, including South Korea, to achieve carbon neutrality by reducing greenhouse gas emissions. The CCU Megaproject aligns with these international efforts and aims to position South Korea as a leader in carbon capture technology.
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