The government will invest 100 billion won in overseas projects this year through the green infrastructure overseas export support fund.
The Ministry of Climate, Energy and Environment said on Jan. 8 that it will contribute 60 billion won in government funds to the green fund and, together with private investment, make a new investment totaling 100 billion won.
The green fund was created in 2024 and is the country's only policy fund for investing in new overseas projects. It will be raised to a total of 509.2 billion won by 2029, with investment targets including green industry sectors such as energy transition, carbon reduction, circular economy and the water industry.
Through this contribution, the ministry plans to expand investment in new overseas projects related to energy transition and carbon reduction. It is expected to support domestic corporations' overseas expansion and contribute to implementing the national greenhouse gas reduction target (NDC) and strengthening international climate cooperation.
The government has already approved 146.2 billion won in investments for five overseas projects, including eco-friendly ammonia production facilities (35 billion won), energy storage systems (ESS, 42 billion won) and eco-friendly ships (43.5 billion won) in the United States and Japan. It expects the scale of overseas orders and exports by domestic corporations to increase to more than 4.9 trillion won.
A notable feature is that not only large corporations but also more than 100 small and mid-sized companies can participate in overseas projects in various ways, including supplying equipment, design and construction, and operation and maintenance.
Jeong Eun-hae, Director General for International Cooperation at the ministry, said the 509.2 billion won green fund will serve as a key policy tool of the Korea green transition (K-GX) strategy to be fully launched this year and will contribute to decarbonizing domestic industry.