The Ministry of Environment (Minister Han Wha-jin) is seeking domestic companies to participate in the ‘2024 Greenhouse Gas International Reduction Support Project’ for one month from March 29 to promote greenhouse gas international reduction projects targeting developing countries.

This call for proposals was created to support global climate crisis responses and sustainable development in developing countries, as well as to contribute to achieving South Korea’s 2030 Nationally Determined Contribution (NDC*).

* Nationally Determined Contribution: South Korea has set a target of reducing emissions by 40% compared to 2018 levels by 2030 and has set an international reduction target of 37.5 million tons.

Since 2022, the Ministry has been providing financial support to domestic companies participating in greenhouse gas international reduction projects. The greenhouse gas international reduction support project targets various environmental sectors including pollution prevention, environmental improvement, resource circulation, waste, and water management. This year, the total budget is KRW 10.9 billion.

The application doc.uments are received through the Korea Environment Corporation (KECO), under the Ministry of Environment. The support scale is up to a maximum of KRW 4.2 billion for installation support projects, and up to KRW 200 million for pre-feasibility study projects and KRW 400 million for feasibility study projects.

Detailed information such as business announcement notices and application docu.ments can be found on the websites of the Ministry of Environment (www.me.go.kr) and the Korea Environment Corporation (www.keco.or.kr).

* Ministry of Environment (Notice/PR - News/Announcement - Notice/Announcement), Korea Environment Corporation (Open Space - Notices)

The final recipient companies will be selected through a review committee established by the KECO, comprehensively reviewing the feasibility of the project plans and expected reduction performance.

Furthermore, the Ministry will hold a business briefing session on April 4 at the Grand Intercontinental Seoul Parnas Hotel (located in Gangnam-gu, Seoul) to assist companies in understanding the project. Those who wish to attend the briefing session can submit a participation application form by accessing the QR code attached to the meeting plan (Appendix 2) by 1:00 p.m. on April 1.

Lee Yeong-seok, Director General of the Climate Change and International Cooperation Bureau, emphasized, “International reduction projects present an opportunity for Korean companies to showcase their prowess in the global market by utilizing climate technologies.” 

For further information, please contact the Public Relations Division. 

Contact person: Gina Lee, foreign media spokesperson

Phone: +82-44-201-6055

Email: gcjgina @gmail.com