South Korea’s Ministry of SMEs and Startups, together with the Korea Technology and Information Promotion Agency for SMEs (TIPA), is accepting applications from May 13 to 27 for a new 99.4 billion won R&D initiative.

This project helps small businesses adapt to the EU’s Carbon Border Adjustment Mechanism (CBAM) and other increasingly stringent global carbon emission regulations by focusing on the steel and aluminum industries.

Consortia of developers, exporters, and researchers can receive up to 5.5 billion won for three to five years. Supported work includes replacing combustion fuels, improving power efficiency, and reusing raw materials.

Besides laboratory research, the program provides for on-site testing to verify real-world emission cuts.

Running through 2030, the plan aims to keep South Korean exports competitive as international environmental standards tighten. Interested parties must apply via the Integrated Research Information System (IRIS).