The Korea Trade-Investment Promotion Agency (KOTRA), in collaboration with the South Korean Embassy in Laos, has initiated support for companies aiming to enter the local international reduction and clean energy markets.
KOTRA announced on August 31 that it held the 'Korea-Laos Net Zero Partnership' in Vientiane, Laos, from August 27 to 28. The event was attended by representatives from 17 domestic energy and infrastructure companies, as well as officials from the Laotian government and related organizations. Activities included a net zero partnership forum, site visits, and one-on-one partnering consultations.
Laos is set to become the ninth country to sign a bilateral climate change agreement with South Korea in October 2024. The country has recently established a carbon neutrality target for 2050 and is implementing a carbon credit government decree, indicating a commitment to enhancing related systems. There are expected to be expanded opportunities for cooperation between the two countries in renewable energy sectors such as solar, wind, hydropower, and electric vehicles.
On the first day of the forum, participants shared insights on Laos's latest carbon credit legislation and renewable energy policies while reviewing local foreign investment policies and incentives. The following day, approximately 50 consultations took place between domestic participants and Laotian government officials and local developers, helping to clarify strategies for reduction projects.
Maraithong Kommasith, Laos's Minister of Industry and Commerce, emphasized the importance of South Korean companies' participation in clean energy projects and practical cooperation through green technology in his welcoming remarks.
KOTRA plans to continue expanding support for local entry of domestic companies and achieving the national greenhouse gas reduction targets (NDC) of both countries, based on the key project information secured during this partnership.
Gu Bon-kyung, head of KOTRA's Southeast Asia and Oceania headquarters, stated, "Laos is one of the regions our companies are most interested in for pursuing overseas reduction projects. We will do our utmost to support our companies in seizing business opportunities while achieving the national greenhouse gas reduction targets (NDC) of both Korea and Laos."
* This article has been translated by AI.
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