Replacement of outdated high-carbon-emitting equipment: 70% support for small and medium enterprises, 50% for large corporations
On the morning of the 21st, visitors examine fabrics at the ‘2024 Korea Textile Trade Show (Preview in Seoul)’ held at COEX in Gangnam-gu, Seoul. (The photo is unrelated to the article content) ⓒ News1 Gu Yoon-sung.
(Sejong=News1) Reporter Kim Seung-joon reports that the government will provide up to 100 million KRW in support to textile companies wishing to replace outdated equipment that emits significant amounts of carbon.
The Ministry of Trade, Industry and Energy will begin recruiting companies for the “2025 Textile Material Process Low-carbonization Infrastructure Support Project” on the 6th.
The textile industry, along with sectors like steel, petrochemicals, and cement, emits a significant amount of carbon, with over half of the carbon emissions occurring during the fabric manufacturing and dyeing processes.
In Korea, nearly 90% of the textile industry consists of small enterprises with fewer than 10 employees, making the transition to low-carbon operations challenging. To address this, since 2023, the ministry has been supporting the replacement of equipment with low-carbon options such as low-power motors and wastewater heat exchangers.
Globally, led by the European Union (EU), demands for carbon accounting and reduction in the textile and fashion supply chains are intensifying. The project also supports the installation of equipment to measure energy usage, such as power meters and flow meters, starting this year.
The ministry will support 70% of the installation costs for small and medium enterprises and 50% for large corporations. Additionally, selected companies can receive advice from carbon reduction experts. If the carbon reduction effect ranks in the top 30%, they can receive a “Carbon Reduction Certificate.” Detailed information is available on the Ministry of Trade, Industry and Energy and the Korea Textile Exporters Association websites.