Facility standards for carbon capture, storage, and utilization (CCUS) operators will be established, and criteria for verification and commercialization support for related companies, subsidies for project costs, and loans will be specified.

The Ministry of Trade, Industry and Energy (Minister Ahn Deok-geun) will hold a legislative notice for 40 days from October 10 to November 19 on the draft enforcement ordinance and enforcement regulations containing the delegated matters of the Act on Carbon Dioxide Capture, Transport, Storage and Utilization (Carbon Dioxide Storage and Utilization Act) enacted and promulgated on February 6.

This bill was prepared by the Ministry of Trade, Industry and Energy after five rounds of consultations with the industry, related organizations, and experts, and presents specific standards and scopes for securing and operating carbon dioxide storage facilities essential for reducing greenhouse gases, and supporting related companies and industries.

Looking at the main contents, it specifies detailed standards such as the facilities that operators must have for reporting capture facilities, approval of transport business, and permission of storage business, and also establishes certification procedures and labeling standards for carbon dioxide utilization products and technologies.

In addition, detailed criteria were stipulated regarding verification and commercialization support for companies conducting related projects, scope of subsidies and loans for project costs, etc., while contents such as the designation and support system for integrated complexes to activate the industrial ecosystem and the criteria for establishing CCUS promotion centers were also reflected.

The Ministry of Trade, Industry and Energy will collect various opinions on the proposed legislation through this legislative notice and reflect them in the proposed legislation after consultation with relevant ministries, thereby revitalizing the carbon dioxide capture, transport, storage and utilization industry.We plan to actively support it.