"Korean government had spent about US$ 89 million (106.9 billion Korean won) during the first decade of 2000 and has spent about US$ 120 M (138.4 billion Korean won) recent three years (2010~2012) in funding for CCS R&D. Most (approx. 80 percent) of these funds have supported several independent projects to develop CO2 capture technologies."
"In July 2010 the presidential committee on green growth (PCGG) with five ministries (MSIP, MOTIE, MOF, ME, and MOSF) announced the national CCS master action plan. The key categories of action include: 1) innovative CCS technology development and large-scale integrated demonstrations; 2) infrastructure for CO2 transportation; 3) selection of potential storage site and development of key storage technologies; and 4) CO2 utilization."
"The PCGG also announced that a total of US$1.9 billion will be invested to two large-scale integrated CCS demonstration projects next ten years (government share 52 percent, private share 48 percent). The Korea Electric Power Corp. (KEPCO), with its subsidiaries (five fossil-fuel power companies), has also committed US$1.1 billion in funding for CCS next ten years. KEPCO, state-run utility, is currently leading investment on CCS. Other major industries currently invest a small, but significant, portion and are willing to invest more."
"Upon successfully completed 10-year CDRS program on March, 2012 , the MSIP with 100% funding of a total of US$ 157 million formally launched a new program “Korean CCS 2020 Project” on November 1, 2011. The Korea Carbon Capture and Sequestration R&D Center (www.kcrc.re.kr) mainly support on three topics; innovative capture technology, integration of capture and storage, and CO2 utilization. The duration of the project is 9-year from November 1, 2011 to May 31, 2020"