The Ministry of Small and Medium-sized Enterprises and Startups, the Ministry of Trade, Industry and Energy, and the Ministry of Environment announced that they will be recruiting participating corporations for the 'carbon neutrality commercialization support project' from the 10th to February 21.
The 'carbon neutrality commercialization support project' is a representative multi-ministerial collaborative project that blocks the overlapping support of budgets among government support projects and enhances fiscal execution efficiency. The ministries previously operated their own programs, which will be restructured and integrated starting in 2025.
The revamped 'carbon neutrality commercialization support project' will generally prioritize the evaluation of carbon neutrality contributions when selecting target corporations, while the specific fields or contents of support will differ by each ministry.
The Ministry of Small and Medium-sized Enterprises and Startups will focus on supporting small and medium enterprises that possess technologies related to carbon neutrality and require significant funding for commercialization and verification compared to other sectors. They plan to select 10 small and medium enterprises that possess climate tech and other carbon neutrality innovation technologies to support business commercialization (6 corporations, up to 200 million won per corporation), as well as providing support for verification (4 corporations, up to 600 million won per corporation).
The Ministry of Trade, Industry and Energy will discover and support commercialization models for 'circular economy transition' that continuously use resources without waste throughout the entire industrial supply chain. More than three corporations connected in the circular economy supply chain must jointly participate in the application process, and the selected consortiums will receive funding for commercialization, including prototype production, performance and reliability evaluations, and product production, up to 600 million won annually for a maximum of three years (up to 1.8 billion won).
The Ministry of Environment will select and support four promising small and medium-sized enterprises in all areas of climate tech. They plan to support up to 700 million won per corporation annually for a maximum of three years, covering costs for prototype production and improvement, performance evaluation, verification, as well as consulting costs for greenhouse gas reduction verification and commercialization strategies.
Detailed announcements regarding the carbon neutrality commercialization support project can be found on the websites of the Ministry of Small and Medium-sized Enterprises and Startups, the Ministry of Trade, Industry and Energy, and the Ministry of Environment.