South Korea's Ministry of Science and ICT is launching a cooperation project with the Global Green Growth Institute (GGGI) to demonstrate public climate technologies.

The ministry on April 14 signed an administrative agreement in Seoul at GGGI headquarters for cooperation on public climate technology demonstrations. The agreement covers the MSIT-GGGI Climate Technology Acceleration Fund (CTAF).

GGGI is an international organisation established in 2012 to support sustainable economic growth in developing countries. It has a wide international network and expertise in responding to climate change and in green growth. The ministry and GGGI signed a memorandum of understanding in June last year to lay the groundwork for cooperation in climate technology.

The contribution agreement is a follow-up measure. Under the agreement, the ministry plans to build contributions totaling 21 billion won over seven years from this year through 2032. In 2026, it will start projects to respond to climate change through a 1 billion won contribution.

Specifically, it will pursue identifying public climate technologies and investing in them, developing sustainable climate resilience projects, securing international climate finance through demonstrations of public climate technologies, and developing policy and regulatory frameworks to respond to climate change.

The ministry plans in particular to support public climate technologies so they can be linked to large-scale climate change response projects by connecting to international climate finance through overseas demonstration projects.

Lee Eun-young (이은영), director general for R&D Performance and Innovation at the ministry, said overseas demonstrations are essential for the global expansion of excellent public climate technologies. She added the ministry will actively cooperate with GGGI in various fields to spread public climate technologies.