POSCO, Ministry to Combat Climate Change
By Jane Han
Staff Reporter
POSCO agreed Monday to make joint efforts with the maritime ministry in offsetting the growing ocean climate change.
A memorandum of understanding (MOU) was signed by POSCO President Chung Joon-yang and Vice Minister of Maritime Affairs and Fisheries Lee Eun that sketches out plans to preserve ocean life, suggest measures to counteract climate change and store carbon dioxide under the sea floor.
Under the partnership, POSCO will develop the required technologies _ which can also translate into business _ and the ministry will play a supporting role to create necessary policies and systems to materialize the plan.
Among the various measures, carbon sequestration is highlighted as one of the most promising methods.
Researchers worldwide have looked into this trapping method of directly capturing carbon dioxide as it is being emitted, and have cited it as one of the most efficient ways to combat global climate change.
However, the process calls for an ideal underground location and extensive technology.
As an initial step in the research process, POSCO officials said it will separate carbon dioxide in cooperation with the Korea Ocean Research & Development Institute, Research Institute of Industrial Science & Technology, Pohang University of Science and Technology, and then transport it to the ocean for storage testing.