South Korea Act on Carbon Dioxide Capture, Transport, Storage and Utilisation

Act No. 20203 on the Capture, Transport, Storage and Utilisation of Carbon Dioxide (passed January 9, 2024, promulgated February 6, 2024, effective February 7, 2025; Enforcement Decree cabinet-approved January 31, 2025) is the dedicated CCUS statute replacing some forty scattered provisions: capture-business registration, transport-business approval, storage licensing for onshore and marine sites, five-year basic plans with annual implementation plans, cluster designation via the Carbon Neutrality Commission, CCU supply/certification/specialised-company systems, and R&D, subsidy, loan, tax and climate-fund support. Marine storage runs a dual-approval model (Trade/Industry/Energy plus Oceans/Fisheries, with continuous post-closure monitoring). The first large demonstration is the depleted Donghae-1 gas field (1.2 Mtpa, FEED and platform conversion underway, first injection targeted before 2030, hub expansion to 2060), complemented by the Daesan cross-border chain to Indonesian storage (KNOC-Pertamina-ExxonMobil framework). The Act serves NDC goals of 4.8 Mt/yr CCS by 2030 and 11.2-20.3 Mt/yr CCUS by 2035, though 2026 scholarship flags the pending First Basic Plan and uncodified post-closure liability transfer as the live gaps.