C-Tech, technology which responds to climate change, is becoming a hot topic. “C” includes climate, carbon, and clean technology, and the purpose is carbon reduction. C-Tech, which existed in the past, became a hot topic because of the growing interest in climate issues. Examples are large-scale floods in China, in 2020, forest fires in Australia that lasted for a year in 2019 and 2020, and the disappearance of four seasons in Korea. Another reason is the increasing importance of energy security due to international events. Energy security means recognizing that energy is deeply related to national stability and that a stable supply is essential.
Cases of C-Tech companies in Korea are the Korea Institute of Fusion Energy (KFE), JC Chemical and ECO bio. KFE is promoting ‘the artificial sun on the ground’ project. Nuclear fusion power generation is modeled after the sun’s burning principle and uses hydrogen as fuel. If KFE uses this method, it is possible to generate electricity that can be used worldwide and year-round with 1,000 tons of hydrogen. JC chemical is producing biodiesel, a clean fuel made from renewable resources. Its unused resources are bio-heavy oil, which is used in airplane and ship fuels. In Korea, Korean Air Lines and Hyundai Merchant Marine are leading the use of bio-heavy oil. ECO bio is progressing green hydrogen production and charging. Green hydrogen is eco-friendly hydrogen supplied to various charging stations and power plants.
In addition, the American company Space X is promoting a project that turns carbon released in the atmosphere during rocket launch into rocket fuel. Global big tech companies such as Google, Apple, and Microsoft are also making large-scale investments in C-Tech.
From a business point of view, in the past, the climate change response plan was thought to harm business because of the additional costs. Now, C-Tech is expected to increase enterprise value and income in various studies. In another study, it was found that enterprise value decreases by $212,000 per 1,000 tons of carbon emission increase.
Korean experts see C-Tech as a breakthrough in social issues Since the size of the C-Tech is much higher than that of Korea’s GDP, they argue that they will significantly benefit even if they take a small portion. Korea currently suffers from low birth rates, low growth, population concentration in metropolitan areas, and housing shortages..
