Successful Completion of CCUS Legal and Policy Analysis Project in a Southeast Asian Country for a Korean Conglomerate
2025.01.31.
Yulchon successfully completed a project analyzing the content and limitations of Carbon Capture, Utilization, and Storage (CCUS) policies in a Southeast Asian country and proposing improvement measures for a Korean conglomerate.
Yulchon conducted an in-depth analysis of the background and regulatory framework of CCUS technology and comprehensively reviewed CCUS-related regulatory trends in key jurisdictions such as the United States, the United Kingdom, and Germany, as well as the IEA’s legal guidelines on CCUS. Based on this international perspective, Yulchon systematically examined and analyzed local climate-related laws, presidential decrees, and subordinate regulations to produce a structured analysis.
The report included policy recommendations that could be proposed to the local governments, such as (1) establishing a CCUS project support fund modeled after the EU Innovation Fund, (2) enhancing tax incentives by benchmarking the U.S. Inflation Reduction Act (IRA), (3) creating a legal framework to facilitate cross-border CO₂ transportation modeled after the Denmark-Belgium agreement, and (4) streamlining government approval procedures by referencing the EU Net Zero Industry Act, (NZIA).
The findings of this project will contribute to the development of an effective legal framework for low-carbon and CCUS policies in the region while supporting Korean enterprises in expanding their global business. This project is significant as it demonstrates Yulchon’s expertise and global perspective in formulating policy measures that effectively balance compliance with international environmental regulations and the enhancement of domestic industrial competitiveness.
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