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S. Korea to spend 77 bln won to advance climate technology in 2017

All Headlines 12:00 February 06, 2017

SEOUL, Feb. 6 (Yonhap) -- South Korea's science ministry said Monday that it will inject 77 billion won (US$67.7 million) this year to develop climate-related technologies to curb carbon gas emissions.

The Ministry of Science, ICT and Future Planning said it designated seven new sectors in 2017 to secure related technologies to better combat climate change.

The ministry said it will earmark 19.2 billion won for the seven projects, including carbon use technology and a climate change adaption program to help developing nations.

"The ministry hopes to lead the global climate market and to reduce carbon gas emissions through the early commercialization of climate-related technologies," said Jeong Byung-seon, an ICT ministry official in charge of the policy.

The ministry will allow the government to conduct its R&D activities more effectively to attain the goal and offer a specific technology management solution, officials said.

South Korea aims to reduce carbon emissions by 37 percent from business-as-usual (BAU) levels by 2030. At the Paris climate conference (COP21) held in late 2015, 195 member countries agreed to step up efforts to reduce carbon emissions and limit global warming.

S. Korea to spend 77 bln won to advance climate technology in 2017 - 1


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