The Ministry of Environment, headed by Minister Han Wha-jin, has announced that the total expenditure of the budget and funds under its jurisdiction (including the Climate Fund project under the Ministry of Environment) for 2024 is set at 14.4567 trillion KRW, reflecting an increase of 7.3% from this year’s total. The budget (including the environment special account, general account, and energy special account) for 2024 is set at 12.6067 trillion KRW, up 8.8% from this year, and the funding (including watersystem management, asbestos management, and the Climate Fund) has been allocated at 1.8499 trillion KRW, down 1.7% from this year’s allocation.

The Ministry's budget next year will focus on: △strengthening essential national functions such as flood prevention, △expanding growth engines by fostering green industries and promoting carbon neutrality, and △protecting the environmentally vulnerable and enhancing environmental services.

< Increased investment in dam and river management, etc. >

The government’s first priority in this area will be to overhaul the overall water management policy, in addition to significantly increasing the budget for dam and rivermanagement by nearly 70% to protect the public safety from the threat of recurring floods. 

The government plans to expand the number of river dredging projects, an area that was neglected by the previous administration. Based on construction projections, the number of such projects will increase from the current 3 to 19. The government also plans to speed up the implementation of tributary and local river maintenance projects, with 20 new projects currently planned. This will be done to address the issue of rising water levels in national rivers. In addition, a new budget of 10.3 billion KRW (based on projected design costs) will be allocated for 10 sites next year to convert local rivers that require national-level management into national rivers.

※ National River Maintenance Project: 451 billion KRW (2023) → 662.7 billion KRW (2024), < 46.9% ↑ >

Steps will also be taken to begin the construction of additional dams, which will serve as the primary line of defense against floodwaters flowing upstream of rivers. Target areas for the construction of new dams will be selected based on local government demand andthe estimated risk of flooding. Ten dam projects that are designated as high-priorityprojects will have their design concepts and feasibility studied and reviewed next year. In addition, the government will support the in-progress construction of small-scale dams for the flood defense systems, such as the Hangsa Dam.

※ New dam construction, etc.: 9.3 billion KRW (new in 2024), construction of existing small dams (Hangsa Dam, etc.): 11. 4 billion KRW (2023) → 15.5 billion KRW (2024), < 36.0% ↑ >

Investments to prevent flooding in urban centers will also be strengthened. In particular, investments in "Priority Management Areas for Sewer Maintenance," where there is a high risk of flooding due to sewage overflow, will be more than doubled compared to this year’s investments. In addition, new projects are planned for this year, including funding for construction of large-scale water storage facilities and floodways at Seoul's Gangnam Station, Gwanghwamun, and Dorimcheon Stream.※ Sewer Pipeline Improvement (Urban Flood Response): 154.1 billion KRW (2023) → 325.6 billion KRW (2024), < 111.3% ↑ >, Gangnam Station?Gwanghwamun?Dorimcheon Reservoir Facilities: 8.5 billion KRW (2023) → 26.2 billion KRW (2024), < 208.2% ↑ >The government also plans to expand investment to build an AI-powered flood forecasting system. The planned AI forecasting system for 223 designated special river flood spots is expected to be utilized beginning with next year's flood season (June 21-September 20). By funding this forecasting system, it is expected that disaster authorities and the Korean public will have twice the time given to respond to floods- increasing the warning timefrom 3 hours before flooding to 6 hours. Furthermore, flood detectors will be installed at 110 urban rivers that have a high risk of flooding in addition to 148 small local rivers to enable artificial intelligence (AI) flood forecasting for rivers nationwide. Considering the importance of and the urgent need for flood forecasting, early construction of this forecasting infrastructure will be promoted next year, far ahead of the original plan. The original target years for urban rivers and small rivers were by 2026, and 2029, respectively. In addition, the development of the dam and river virtual model technology (also known as “digital twin”) is set to be implemented next year, well ahead of the original target yearof 2026. This technology will be able to provide detailed flood forecast information to the public by displaying the scope of flood impact using three-dimensional technology.

※ Establishment of Big Data-based AI Flood Forecasting System: 16.9 billion KRW (2023) → 84.4 billion KRW (2024), < 399.4% ↑>, Dam-River Digital Twin Platform Construction: 5.4 billion KRW (2023) → 25.4 billion KRW (2024), < 370.4% ↑ >

Considering the fact that flood damage has become a recurring issue every year, an additional allocation of 250 billion KRW for river disaster recovery has been set to enhance the financial capacity for disaster response measures.

< Fostering green industries and supporting the transition to carbon neutrality >

The government will also invest heavily in fostering green industries to expand new growth engines. To create a green industry ecosystem, the government will continue to support funding for the entire commercialization process. This includes funding for startups, commercialization, and demonstrations. In addition, funding will also be allocated for thepromotion of the establishment of a new green convergence cluster to integrate promising green industries that can drive a carbon-neutral and circular economy. Furthermore, the government will provide loans of up to 10 billion KRW to companies that install and replace environmental pollutant reduction facilities at interest rates lower than the market rate. It will also promote a new technology development project to improve the circular usability of secondary batteries.

※ Support for Environmental SMEs: 69.4 billion KRW (2023) → 78.1 billion KRW (2024), < 12.5% ↑ >, Promotion of future environmental industries through loans: 278.9 billion KRW (2023)→ 379.9 billion KRW (2024), < 36.2% ↑ >, Research and development (R&D) for improved circular usability for secondary batteries: 5 billion KRW (new in 2024)

The government will also actively support the expansion of Korean companies in the green industry overseas. Support for research on promising overseas environmental markets, discovery of new business projects and establishment of cooperation networks, and demonstrations of Korean companies’ products abroad is expected to be increased. The budget for "Green ODA," a program which helps developing countries adapt to climate change and reduce greenhouse gas emissions will also be expanded. This program will also serve as a pump primer for Korean green industries to enter overseas markets. In addition, a new government fund for overseas expansion of green industries will be established to strengthen the competitiveness of Korean companies’ exports. Over the next five years, plans are in place to raise 300 billion KRW in government funds and 100 billion KRW in private funds to support the financing of overseas investment companies related to carbon neutrality and the circular economy.

※ Fostering export foundations for environmental industries: 20.7 billion KRW (2023) → 32.8 billion KRW (2024), < 58.5% ↑ >, Carbon neutrality and green ODA: 12.4 billion KRW (2023) → (30.1 billion KRW (2024), < 142.7% ↑ >, Green infrastructure export support fund: 60 billion KRW (new in 2024)

In order to reduce both carbon emissions and fine dust pollution, there will be continuing support for zero-emission electric and hydrogen vehicles in the transportation sector. In order to reach the cumulative target of putting 4.5 millions of these vehicles on the road by 2030, the government will provide support for about 306,000 vehicles (295,000 electric and 10,750 hydrogen vehicles) next year. It will also continue to expand electric vehiclecharging infrastructure, including the introduction of 20,000 new mobile electric vehicle chargers with fire-prevention capabilities. The project for the supporting of replacing hydrogen fuel cell stacks- which serve as engines for internal combustion engine vehiclesto expand the stable supply of hydrogen buses will be unified under the Ministry of Environment.

※ Distribution of zero-emission vehicles: 2.5652 trillion KRW (2023) → 2.3988 trillion KRW (2024),< 6.5% ↓ >, Charging infrastructure for zero-emission vehicles: 518.9 billion KRW (2023) → 734.4 billion KRW (2024), < 41.5% ↑ >

In addition, the government will continue to support international GHG reduction projects (4 → 7) and support carbon neutral facilities for designated companies (140 companies → 144 companies) to secure domestic and international GHG reduction results. It will also expand the budget for the carbon neutrality point system to spread awareness and encourage people to practice carbon neutrality (400,000 people → 1 million people).

※ International GHG reduction projects : 10.4 billion KRW (2023) → 23.6 billion KRW (2024), <126.9% ↑ >, Carbon neutral facilities for designated companies: 138.8 billion KRW (2023)→ 127.7 billion KRW (2024),< 8.0% ↓ >, Establishing an eco-friendly consumption life and low-carbon production infrastructure: 24.0 billion KRW (2023)→ 31.1 billion KRW (2024),< 29.6% ↑>

< Enhancing support for environmentally vulnerable groups and expanding environmental services for the public >

Efforts to support the environmentally vulnerable and improve public environmental services will continue. 

To support the growing number of asbestos victims, the government will increase the number of asbestos victim compensation beneficiaries from 2,773 people to 3,791 people. In order to reduce heating costs and reduce air pollutants, the government also plans to expand support for low-income households for the purchase of ecofriendly boilers, increasing the number of people benefiting from this policy from 10,000 to 20,000.

※ Compensation benefits for asbestos victims: 27.7 billion KRW (2023) → 45.5 billion KRW (2024), < 64.3% ↑ >, Support for purchasing eco-friendly boilers for low-income households:3.6 billion KRW (2023) → 7.2 billion KRW (2024), < 100% ↑ >

To alleviate water shortages in vulnerable water supply areas such as islands and mountainous regions, the government will expand the number of groundwater storage dams from the current 2 to 7, based on the planned designs. It will also assist with the design costs of the new emergency water-intake facility expansion project for the Gwangyang Industrial Complex (with a total project cost of 39.9 billion KRW). This is in addition to supporting the costs for the completion of seawater desalination facilities to supply water to Daesan and Imhae Industrial Complex in Chungcheongnam-do. Furthermore, research will be conducted on how to best utilize the weirs of the four major rivers in preparation for extreme droughts.

※ Groundwater management (Groundwater storage dams): 300 million KRW (2023) → 10.8 billion KRW (2024), increasing industrial water pipes (Emergency water-intake facility expansion project for the Gwangyang Industrial Complex): 300 million KRW (new in 2024),Construction of seawater desalination facilities to supply water to Daesan and Imhae Industrial Complex: 22.8 billion KRW (2023) → 42 billion KRW (2024), < 84.2% ↑ >, Linked use and application of dams-weirs-estuary weirs: 2 billion KRW (new in 2024) Efforts to improve water quality, including algae, will be strengthened. New algae reduction facilities such as algae removal boats and eco-robots (25 new units) and algae control fields (1 new site) will be added, and the budget for installing sewage treatment plants to prevent water pollution in public waters will be significantly increased.

※ Preventing algae and managing pollutants: 3.8 billion KRW (2023) → 9 billion KRW (2024) < 136.8% ↑ >, increasing sewage treatment plants: 771.6 billion KRW (2023) → 995.5billion KRW (2024) < 29.0% ↑ > 

The government will continue to invest in meeting the public's demand for eco-friendly leisure activities by funding a new budget to preserve and utilize the natural environment and cultural landscape of Palgongsan National Park in Daegu, which was designated as the 23rd national park. In addition, it will provide one additional helicopter to enhance the prevention of disasters and accidents in national parks.

※ National parks and Geoparks (Palgongsan National Park): 12.5 billion KRW (new in 2024), Korea National Park Service (replacement of helicopters): 2.5 billion KRW (new in 2024)

The 2024 Ministry of Environment budget and fund management plan will be submitted to the National Assembly on September 1, and will be finalized on December 2 after deliberation and resolution by the National Assembly. 

Minister Han Wha-jin of the Ministry of Environment stated, "The Ministry of Environment budget for the following year focuses on actively supporting the water management plan to secure public safety from recurrent water damage.” She added, “We will do our best to prepare for the National Assembly deliberation and execution process to create a more reassuring environment for the public."

Contact: Yoo Gyeong-Rok, Assistant Director

Planning and Budget Division / +82-(0)44-201-6342