South Korea’s Climate, Energy, and Environment Ministry has announced a new initiative to accelerate the adoption of circular economy strategies in major domestic industries such as steel, petrochemicals, electronics, semiconductors, and food. The program, named ‘Circular Economy DNA,’ aims to address resource depletion and supply chain instability by shifting from linear to circular economic models. The DNA framework stands for Decoupling, Network, and Accountability, emphasizing growth with reduced resource consumption, collaboration, and transparent responsibility. This policy responds to the urgent need for sustainable industrial practices amid global resource challenges.
The program is open to companies in manufacturing sectors that generate significant waste, specifically those with an average annual waste output of over 1,000 tons in the past three years, or at least 100 tons of designated hazardous waste. Both large enterprises and SMEs can participate, either individually or as part of a consortium with up to five companies, with large firms limited to 40% of consortium members. Participants are encouraged to focus on at least two of four core tasks: increasing use of recycled materials, reusing and recycling process by-products, improving packaging for reuse and recycling, and promoting repair and reuse to reduce waste.
Selected companies and consortia will receive approximately KRW 100 million each in 2024 to develop detailed circular economy strategies for 2026–2030. The Ministry will provide ongoing administrative, financial, and technical support until 2030, including regulatory exemptions, process improvements, equipment installation for SMEs, and joint R&D opportunities. Progress will be regularly monitored, and successful participants may receive public or third-party environmental certifications. Applications must be submitted via email between February 23 and March 13, 2024, with further details available on the Ministry and Korea Environment Corporation websites.
Frequently asked questions include eligibility criteria and the nature of support provided. Companies must meet waste output thresholds and can participate individually or in consortia. The support covers strategy development, regulatory relief, technical upgrades, and certification. The program is designed to foster innovation and collaboration across supply chains, with a focus on measurable environmental outcomes. For more information, applicants should consult official announcements from the Climate, Energy, and Environment Ministry or Korea Environment Corporation.
The Circular Economy DNA program is a strategic move by South Korea to address resource depletion and supply chain vulnerabilities in key industries. By offering targeted support and encouraging collaboration, the policy aims to accelerate the transition to sustainable, circular business models. The structured approach, including funding, regulatory relief, and certification, is likely to incentivize innovation and measurable environmental improvements. This initiative could enhance the competitiveness and resilience of South Korea’s industrial ecosystem while serving as a benchmark for similar policies globally.