It is the largest ship in the world, carrying around 24,000 containers, which is equivalent to four soccer fields in size. About 98% of goods imported or exported domestically are transported on this ship. The fuel injected at once is over 5,000 tons of petroleum products, notorious for emitting greenhouse gases. However, recently they changed the fuel. The shipping company is now supplying a more expensive but cleaner B3 fuel, which is a blend of 30%. They have distributed about 1,000 tons of it so far. It is estimated to reduce greenhouse gases by around 24% compared to before. They plan to use it entirely on the Asia-Europe route. The current fuel being used on the ships is biofuel, extracted from animal, plant, or microbial sources, or produced by decomposing and fermenting food waste, livestock waste, etc. This biofuel emits much less carbon than conventional fossil fuels.

Think of it as an eco-friendly fuel that emits less. Basically, it's to emit less carbon. In particular, we are preparing various regulations to achieve carbon neutrality by 2050. It's an era where if you don't meet the regulations for carbon neutrality, you can't expect exports or economic growth. The day has just begun, with a sudden increase in tasks even before arriving at work. I have been working for 8 years since I joined in 2017. I am Lee Se-hyung, a manager at the Environmental Planning Energy Group. His work is to create a system that calculates the amount of greenhouse gas emissions from the steel mill, which is the largest steel company in Korea. Steel is one of the industries that emit a lot of greenhouse gases, especially carbon emissions. As it is a large steel mill, we have established a system to manage it thoroughly. Are you available for a call? Recently, I encountered a new task on my first day at work.

We have been given activities and all of that, including discharge amounts and the entire Environmental Planning Office is hanging on this. We have internal figures, but they are reported with two decimal places. Since this is a new regulation that everyone in our report is dealing with for the first time, we constantly ask questions and gather to discuss. It applies not only to domestic but also to overseas subsidiaries. The key is carbon emissions. If we say we can't do it because we didn't even start, those who really have to go on business trips will face a new carbon-related policy called the Carbon Border Adjustment Mechanism. It has been implemented since last October, and we are facing the first report. The main purpose of the Carbon Border Adjustment Mechanism is to reduce carbon emissions to address the climate crisis. In Europe, regulations on carbon emissions are quite strict, so when producing products, a lot of costs are incurred due to carbon emissions. Therefore, for the same product,

In the country, there has been a trend of purchasing products made in the country or European companies moving their production sites to completely different countries. Therefore, the European Union decided to introduce a carbon border tax. When products imported into Europe emit more carbon than the regulations of the European Union allow during their production, taxes will be imposed according to the European standards. Currently, the targeted items set by the European Union include six items, including steel. The transition period for implementing the system will last until 2025, and it will be officially enforced from 2022. This aims to create a kind of carbon price at the border so that products coming from outside Europe bear the same carbon price as European producers, ensuring fair competition between products. Companies exporting to Europe in the future must comply with the carbon border adjustment system. The full enforcement will start in 2026. Before that, they must report their carbon emissions in accordance with the regulations set by the European Union. Adapting to this new system is necessary.

I have faced some difficulties recently. I have been going to work early to prepare for data production and reporting. I am also trying to balance work and studying. It's not easy to prepare for the world's first kind of carbon border tax. Dealing with new tasks and responding to the newly emerged regulations is challenging because the detailed bill has not been released yet. It is not a complete bill. Therefore, there are many ambiguous areas now, and it seems that time is a bit short in reality. From the perspective of export-oriented countries like South Korea, it can be seen as a new trade barrier. In fact, I know that there are hundreds of companies related to the reasons behind this. I know that there are hundreds of companies just in the steel sector alone. Considering various domestic customers who buy our products and then process them in their companies, the impact on them is significant, affecting the entire country.

It seems that the impact will be significant. So, how actively are Korean companies responding to carbon neutrality? We conducted a survey. Most respondents viewed the importance of carbon neutrality as significant. Therefore, it means that they are not responding actively. We surveyed 1,000 companies that emit the most, and received responses from 390 companies. The results were slightly higher than expected. The perceived risk was also much higher than expected. Although they claim to be preparing diligently, it seems that companies still need proactive policies. They also mentioned that there is a significant lack of expertise in achieving carbon neutrality. Considering the regulations in advanced countries, it seems that we are at a point where we need to think about whether we can sustain these businesses in this current state. It's a time when such concerns are arising.

In fact, depending on how we respond now, the government's support and how companies can overcome it will make a difference in the results. I think that government support that can further promote this investment willingness is needed, and it seems like the time for this stage to start is now. We are a bit late in that aspect. It is somewhat empty for the government to lead the direction with just plans. In reality, the government also needs to invest. The carbon border adjustment mechanism, which is changing the global trade order, started with Europe's climate policy. The so-called Green Deal policy announced concrete practical measures for carbon neutrality. The Green Deal policy soon followed with bold investments, approving and supporting through each government.

Understand the transformation of business models, so it is necessary to aim. Therefore, it is not easy. The amount of investment in high-carbon industries is actively following up. Looking at the subsidies given to European steel companies, we can see the scale of their investments. I think that European steel companies adequately support the establishment of facilities to reduce carbon emissions. Investments are made to enable them to do so. The European Union and governments provide support for this. From our point of view, the funds from the European Union are not massive enough. Also, Europe has entrusted financial resources to help develop projects and startups. A number of actors, small industrial companies, and industrial parks are well-known for producing high-quality elevators. A world-famous steel company is also located here. Knowing that they are here, let's take a look at us. The biggest turning point in 200 years of history is the era of carbon neutrality right now. They receive the most subsidies in Europe to build new factories. What we are doing here is establishing a comprehensive facility.

Get a precise look here, you can get an insight into the area now. It is 500 x 550 meters in size, and over 60 buildings will be built here. Besides, we have taken the first step towards a technology that will replace the high-carbon blast furnace technology with hydrogen-based climate-neutral steel production. It will reduce emissions by 20%. In fact, the real issue was the production itself without decarbonization. Due to the increasing CO2 prices, we wouldn't be able to produce anymore. So, we have no alternative but to decarbonize, which we received around 1.3 billion from the federal government and around 700 million from the state government. This support is necessary because no company can handle investments of this magnitude alone. The current economic situation in Germany is not very good. At this time, deciding to focus on national support for carbon neutrality instead of economic stimulus is a significant decision. I don't think everything will get more expensive in the future, at least if the prices hold as they are now.

In the past, an article cost 50 cents, sometimes even 1 euro more. It was a difficult situation, but the German government did not give up on environmental policies. It was possible because of the support of the citizens. Thirty years ago, the process of creating the Zollverein Park was similar. Due to the will of the citizens, a former coal mine was transformed into an environmentally friendly cultural space. In this event here this year, we are economically strong. We have 50 companies here that are settled here, that produce here, that operate their businesses here. This also shows that we are a great location, an oasis in the city with our Zollverein Park. The musical director adds that it is right that the federal government, the federation, the state, should give an initial push, an impulse, a help to move towards new developments, towards transformation. Therefore, I also believe that from many [music] sides, in this region, it is quite typical. TSS is an important employer, the heart of the industry here in Germany. There is support from the federal government, but also from the state government. This would mean a lot to us. We have just received from TSS Elevator a roller, the largest freestanding escalator in Germany, which was built with steel.

[I'music] [I'music] It's easy to guess where I'm heading, isn't it? The famous Inland Steel, once known as the largest steel mill in the thriving Rust Belt region of the United States. After closing its doors over 30 years ago, it has been preserved as a cultural facility for tourists. In his eyes, the image of its heyday still lingers. The most knowledgeable guide about Inland Steel vividly describes it as if the factory is still in operation. He was a supervisor overseeing up to 25 people, including burners, welders, crane operators, and various types of mobile equipment like forklifts, bulldozers, and cranes. He was probably one of the youngest supervisors at that time. The workforce was older back then, indicating things were going well. He was hired full-time on June 10th, 1974. [I'music] He experienced the decline of Inland Steel and witnessed its final moments before closing its doors. [I'music] Watching the last moments of the company he believed would never fall, he realized...

There was a dream that had lasted for over 100 years, but even that dream of Hogyo disappeared in vain. The oil shocks of the 1970s in 1973 and then again in 1979 had dramatic effects on the global economy, but the impact was particularly severe for the Rust Belt for various reasons. In response to the inflation shock caused by the oil crisis, interest rates rose sharply in the United States. After the 1970s, the declining industrial city, Rust Belt, is now rapidly preparing for a new era called Rust 2.0 for sustainable growth. Environmental and energy projects are projects being carried out as part of national support policies. Inflation reduction has paved the way for large-scale investments. On the 16th local time, President Joe Biden signed the inflation reduction bill. The bill, which includes a budget of 90 trillion won, took effect immediately upon signing. Through the bill, carbon neutrality

The United States has promised not only to support eco-friendly industries that pave the way for the future but also to provide bold tax credits. Tax credits for manufacturing everything from wind turbines, solar panels, batteries, to the next stage of innovation will be made available. It can be seen as the first time in the country that a huge amount of public funds has been invested to ambitiously present a concrete action plan. In response, private companies are actively reacting, and the effects such as foreign companies now investing in the U.S. domestically are now clearly visible. The vibrancy of the city is evident, but behind it, things are inevitably left behind. However, here, we don't just discard them. We crush and melt waste plastics for use as fuel, heat them in factories to gasify them, and break them down into hydrogen and carbon dioxide. Carbon dioxide is captured immediately, and hydrogen is transported through pipes. When hydrogen arrives nearby, a.

Hotel Plus uses hydrogen energy, which emits no carbon dioxide, and uses electricity at the hotel. It is located in Gwangju Industrial Complex, a city where advanced industries gather, but it was very different from now until the 1980s. Back then, the sky was so polluted that you couldn't see the blue sky, and many people suffered from asthma. Efforts were needed, and thanks to that, a clean environment was restored. Now, another turning point has come, the era of carbon neutrality. The industrial city of Kawasakishi is planning to achieve carbon neutrality by focusing on hydrogen energy utilization. Carbon neutrality is also a national task in Japan. In 2023, there was a very exceptional event in the Japanese National Diet. A bill was passed in just 10 days, which was a very fast process. GX Green Transformation, which means green transformation or GX bill, is being taken as a law in Japan.

We have been implementing carbon neutrality policies as a foundation. GX 20 10 50 is receiving tremendous government support. How are the beneficiaries of such benefits determined? In order to achieve carbon neutrality, Europe is investing around 140 trillion, the United States around 13 trillion, and Japan around 135 trillion through large-scale support policies. The era of carbon neutrality has already begun. How prepared is South Korea for this? Recently, the Financial Services Commission announced that it will create funds totaling 420 trillion won over 427 years. In reality, I believe that South Korea should have a more proactive industrial policy. Of course, that should be the case. I think that we need policies similar to those of Europe and the United States because we are shoulder to shoulder with those countries in terms of industries. South Korea still lacks such policies.

Yes, yes, yes. Although the foundation is laid through the Basic Law on Carbon Neutrality and Green Growth, I believe that more proactive measures are needed to implement it concretely. However, what's crucial is not just the law itself, but rather the policies that effectively utilize the law. It is more important to have policies that can put the law into practice. In industries that inevitably rely heavily on various energies, efforts are being made, and it is a fact. Therefore, in order for these efforts to bear fruit, the government should actively support such initiatives by providing tax benefits and prioritizing funds related to technology development. I think this is the most important. The most crucial infrastructure for achieving carbon neutrality is renewable energy. However, the reality in South Korea is poor. It falls far below the OECD average. On the other hand, South Korea, with a high proportion of manufacturing in the overall industry, aims for carbon neutrality.

To go, the infrastructure that supports it must be secured. Products produced in the manufacturing industry are loaded and sent to export routes. To move forward on this path, we must overcome the carbon barrier and make new preparations. It is the era of carbon, an opportunity to overcome the climate crisis and achieve economic growth simultaneously. However, it is a path that no one has taken, and the safest destination is carbon neutrality. We all must go towards that place. Now is the time for green issues. Carbon neutrality is an unavoidable challenge and IR.

'불가능에 가까운 도전' 탄소를 해결하지 못하면, 수출도 없다┃탄소와의 전쟁 선포한 한국 철강 산업┃'POSCO'의 '탄소 제로', 성공할 수 있을까?┃#골라듄다큐

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'불가능에 가까운 도전' 탄소를 해결하지 못하면, 수출도 없다┃탄소와의 전쟁 선포한 한국 철강 산업┃'POSCO'의 '탄소 제로', 성공할 수 있을까?┃#골라듄다큐

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