Lifecycle
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Country / jurisdiction: Korea · Year: 2023 · Status: In force · Level: National · Type: Voluntary
In September 2023, the Korean government's Emergency Economic Ministers Committee (led by the Ministry of Economy and Finance) announced Additional Support Measures to Encourage Exports, a portfolio of policy measures aimed at boosting export competitiveness through a combination of deregulatory measures, financing support, and government grants.
Measures include both general support that apply to a wide range of industries; and specific funding measures aimed at key strategic industries (including energy, semiconductor, and battery manufacturing industries).
Specific funding measures for steel and energy industries include:
Announcement of plans for a carbon-neutral steel R&D plan and steel industry growth strategy, in part as a response to the EU carbon border adjustment mechanism and other on-going impacts of the energy transition on the steel industry (KRW 210 billion; 2023-2030)
Establishment of hydrogen fuel cell generation cluster to support R&D and demonstration of hydrogen fuel cell technology (KRW 192 billion; 2024-2028)
Official source: https://www.korea.kr/briefing/pressReleaseView.do?newsId=156588220
Source
https://www.iea.org/policies/19058Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.