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S. Korea to Boost Investment in Greenhouse Gas Storage by Over 30 Percent Next Year
  South Korea
Sunday, December, 2, 2007
Source: YONHAPNEWS
Article Type: Cited
 
South Korea will increase its spending on technologies to capture and store greenhouse gases by over 30 percent in 2008, the government said Sunday.

The Ministry of Science and Technology said 33.95 billion won (US$36.62 million) out of next year's budget has been set aside to help the country better cope with greenhouse gases, which are causing global warming and unwanted climate change.

It said the amount is a 31.5 percent gain from the 25.82 billion won earmarked for this year. Of the total, about 26.2 billion won is to be spent on trying to reduce carbon dioxide (CO2), with 7.7 billion won allocated to develop ways to deal with other non-CO2 gases.

The capture and permanent storage of greenhouse gases is gaining importance worldwide, but more technological advances are needed to make those processes economically viable.

A report by the United Nations Development Program (UNDP) said South Korea was the ninth-largest carbon dioxide (CO2) producing country in the world in 2004.

It said the country released 465 million tons of greenhouse gases, equivalent to 9.7 tons by each South Korean, in the one-year period, a gain of 93 percent compared to 1990.
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