CCUS (Carbon Capture, Utilization and Storage) is attracting growing attention as a key technology for responding to the climate crisis and achieving carbon neutrality. CCUS refers to the technologies and systems used to capture carbon dioxide that has been released into the atmosphere through human activity, and to either utilize it in various ways or store it safely. CCUS offers a pathway for industries that cannot readily switch their energy sources to renewables such as solar or wind to reduce their greenhouse gas emissions. It is becoming an essential technology in high-emission sectors including thermal power generation, steel, cement, and petrochemicals. CCUS is also used to capture and store the carbon dioxide generated during the production of blue hydrogen as part of the hydrogen economy transition. For these reasons, the global CCUS market is growing rapidly and is projected to reach approximately USD 25.3 billion by 2026, with large-scale projects underway in South Korea, the United States, Europe, and China.
CCUS contributes to achieving Net Zero by reducing greenhouse gas emissions to the greatest extent possible and offsetting and removing remaining emissions. The International Energy Agency (IEA) has stated that "achieving climate targets without CCUS is impossible." However, CCUS also faces technological, economic, environmental, and social challenges. High costs across the capture, storage, and utilization process; the selection of storage sites and construction of infrastructure; and ensuring safety remain unresolved issues. Concerns also exist about the risk of leakage during storage causing environmental pollution or triggering earthquakes. There are further critiques that CCUS can be used to extend the lifespan of existing fossil fuel industries, and that the actual carbon reduction effect during the utilization process may be limited.
[CCUS — Carbon Capture, Utilization and Storage ⓒESG.ONL]
South Korea is strengthening its support for CCUS research, development, and commercialization in pursuit of its 2030 Nationally Determined Contribution (NDC) targets. The Ministry of Science and ICT designated sites in Yeosu (South Jeolla), Seosan (South Chungcheong), Gangneung and Samcheok (Gangwon), Pohang (North Gyeongsang), and Boryeong (South Chungcheong) as locations for large-scale CCU mega-projects. Major companies including POSCO and LG Chem have recently been announced as participants. Following a preliminary feasibility review this year, full-scale demonstration projects are set to begin in 2026 — with the CCU mega-projects expected to serve as a bridgehead for building an efficient resource circulation system and driving a sustainable industrial transition.
by Editor O