A group of lawmakers has introduced legislation aimed at turning climate technology into a more formally supported national industry, with measures covering research, demonstration, investment, commercialization and overseas expansion.
The proposed Special Act on Fostering Climate-Tech Companies and Building the Climate-Tech Industry Ecosystem was introduced on Aug. 27 by lawmaker Kim So-hee, a member of the National Assembly’s climate, energy, environment and labor committee. Reporting on the proposal says 42 lawmakers joined as co-sponsors.
What the bill would create
The bill would organize climate tech into five areas — clean, carbon, eco, food and geo tech — and establish a Climate-Tech Promotion Agency under the climate and energy ministry. The agency would be tasked with functions including industry statistics and climate-value assessment.
- Specialized climate-tech investment funds
- Finance and guarantee support
- Public procurement and demonstration support
- Regulatory exemptions and temporary permits
- Dedicated industrial clusters
The proposal also provides legal grounds for specialized investment funds, finance and guarantee support, public procurement, regulatory exemptions and temporary permits, use of public infrastructure for demonstration projects, and dedicated industrial clusters.
The policy argument behind the bill is that climate technologies often need long demonstration periods and substantial capital before they can reach market scale. Whether the proposal becomes meaningful industrial policy will depend on committee review, budget commitments and the final scope of the support mechanisms.