【韓國(guó)央行】碳中和的經(jīng)濟(jì)之路：韓國(guó)氣候技術(shù)的現(xiàn)狀和挑戰(zhàn)（《韓國(guó)經(jīng)濟(jì)展望》（2024年11月）深入分析）

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III.In-depthAnalysis

ThePathtoaCarbonNeutralEconomy:CurrentStatusandChallengesofKorea'sClimateTechnologies

(EconomicResearchInstitute)

DongweonLee,WonSung,SeriShim,InroLee,SeongjunJeong,EseulChoi,DongjaeKim,TaeHyoungCho

KEYTAKEAWAYS

?1Astheglobaldemandsforaddressingtheclimatecrisisandbuildingasustainableeconomyintensify,theimportanceofclimatetechnologiesisbecomingprominentinthetransitiontoacarbonneutraleconomywherecarbonemissionsare'zero'.climatetechnologiesaretechnologiesthatreducegreenhousegasesandadapttoclimatechangewhilegeneratingeconomicreturns,servingasakeyelemeentsupportingthetransitiontocarbonneutrality.climatetechnologyinnovationprovidesopportunitiestominimizeeconomiccontractionandcreatenewgrowthenginesduringthetransitiontoacarbonneutraleconomy.

?2Comparingmajorcountries'climatetechnologyinnovationperformancebasedonpatentapplicationnumbers,Koreashowedquantitativelyfavorableresults.Analysisofpatentsregisteredwiththelu.s.patentandTrademarkofficeshowsthatkorea'sclimatetechnologypatentapplicationsrankedthirdgloballybetween2011-21,pl:iacingitamongtheworld'stoptier.Moreover,whiletheunitedstatesandJapanhaveshownstagnationordeclinesincetheearlytomid-2010s,kireahascontinuedtoincreasesteadilyuntilrecently.

?3However,Korea'sclimatetechnologypatentswereconcentratedinspecificcompaniesandtechnologies,andshowedinsufficientqualitativeperformanceintermsofsubsequentimpact,originality,andgenerality.

Morethantwo-thirdsofclimatetechnologypatentswereconcentratedinfourcompaniesandfourtechnologyareas:secondarybatteries,electricvehicles,renewableenergy,andinformationiandcommunicationtechnology.conversely,patentperformancewaspoor:incarbonreductiontechnologiesforcarbon-intensiveindustriessuchaschemical,oilrefining,andsteel,aswellasincorepromisingtechnologieslikecarboncapture,utilization,and

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storage(ccus).Additionally,evenincoretechnologyareaslikesecondarybatteries,electricvehicles,andrenewableenergy,mostqualitativepatentevaluationindicatorsremainedinthelowerranksamongthetop10leadingcountries(countrieswiththehighestnumberofpatentapplications).

?4ThereasonsforKorea'sclimatetechnologyinnovationperformancebeingconcentratedinspecificcompaniesandtechnologies,andshowinginsufficientqualitativeperformance,wereanalyzedasfollows:

First,short-termperformanceisbeingprioritizedovermid-tolong-termnecessityinclimatetechnologyinnovation.korea'sclimatetechnologyhas

focusedonareasthathavealreadyenteredcommercializationstagesandshowsteadymarketgrowth,enablingquiickinvestmentreturns,suchassecondarybatteries,electricvehicles,eundrenewableenergy.Thesetechnologyareasaccountedfor65%ofcorporateclimatetechnologyR&Dexpenditurein2022,whileccus,acorepromisingtechnology,accountedforonly1%.Additionally,thelackoflong-terminvestmentinbasicresearch,whichformstheacademicfcoundationfornewtechnologydevelopment,hascontributedtolowerqualitativeperformance,showingfewerpatentcitationscomparedtothetop10leadingcountries.

?5Second,governmentR&Dsupportandcarbonpricingpoliciesarenotsufficientlyinducingclimatetechnologyinnovationfromamid-tolong-termperspective.ThegovernmentsR&Dinvestmentratioinlow-carbonenergytechnologywas2.9%in2021,rankinglowestamongthetop10leadingcountriesexcludingchina.1Furthermore,theeffectivecarbonrates,includingemissionpermitprice,vassignificantlylowerat26.0euros/tco2in2023,comparedtothetoyo10leadingcountries'average(64.7euros/tco2).

?6Third,climatetechnologyinnovationfinancingconditionsfornewsmallandmedium-sizedenterprisesareinadequate.korea'sgreenbondissuance

volumehasincreasedsignificantlysince2021,butat0.30%ofGDPduring2016-23,itwasconsiderablylowerthanthetop10leadingcountries'average(0.57%).Additionally,venturecapitalinvestmentinclimatetechnologyduringthesameperiodwas0.1J03%ofGDP,thesecond-lowestamongthetop10leadingcountries(average0.019%)afterJapan.

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?7Toovercometheseissuesandadvanceasa"firstmover"inclimatetechnology,climatetechnologyinnovationpoliciesneedtobepursuedinthefollowingdirections:

First,governmentR&Dsupportforclimatetechnologyshouldbestrengthenedtoensurecompaniesreceivesufficientcompensationfortheirtechnologydevelopmentachievements.Thisshouldpromote"induced

innovation"toshiftR&Dactivitiestowardclimatetechnology.Inparticular,supportshouldbeexpandedforareaswitlnhighdevelopmentneeds,suchascarbonreductiontechnologiesforcarbon-intensiveindustriesandCcus.

?8Second,theeffectivenessofcarbonpricingsystemsshouldbeenhancedtoensurecarbon-emittingcompaniesbearthedamagecostsoftheclimatecrisis.Thisshouldtransform"distortedinnovation,"whichhasbeenfocusedonupdatingcarbonemissionteclnologies,intocarbonreductiontechnologydevelopment.ThetaxrevenuesecuredthroughcarbonpricingsystemsshouldbedesignedtoberecycledasR&Dfundingforlow-carbontechnologyinnovation.EnhancingcarbonIoricingsystemeffectivenesswillhelpmitigatepotentialtaxrevenueoi1tflowsduetoforeigntraderegulationssuchastheEU'scarbonBorder'AdjustmentMechanism.

?9Third,innovationfundingconditionsshouldbeexpandedtohelpcompanieseffectivelycrossthe"valleyofdeath"wheretheycannotgenerateprofitsbeforetechnologycommercialization.TOachievethis,

measurestoactivateventurecapitalinvestnnentshouldbeactivelypursued,includingexpandingthesecondarymarket(M&A,IPO,etc.),strengtheningtheroleofgovernmentventurecapital,andprovidingpublicpatientcapitalthatavoidsshort-terminvestmentre:overy.

?10Accordingtothispaper'sanalysisofOECDmembercountries,ifthesethreepoliciesareeffectivelyutilized,Koreahasthepotentialtoadvanceasa"firstmover"intheclimatetechnologyfield.calculationsshowthatif

governmentR&DSupport,carbonprice,andclimatetechnologyventurecapitalinvestmentcanallbeexpandeclby40%,climatetechnologyinnovationperformancereflectingbothquantityandqualitywouldreachtheleveloftop-performingcountries.

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1.Introduction

1.Asglobaldemandsforaddressingtheclimatecrisisandbuildingasustainableeconomyintensify,thetransitiontoacarbonneutraleconomy,whichreducescarbonemissionsto"zero",hasemergedasanurgentchallenge.

submittheirNationallyDeterminedCo

topre-industriallevels1),Inlinewith

theseglobalefforts,koreaalsodeclarediin2020thatitwouldachievecarbon

MajorCountriesEstablishGreenhouseGas

EUPlanstoImposeCarbonEmissionCostsonImportedProducts

ReductionTargetsforCarbonNeutrality

[Table1.1]MajorCountries'GreenhouseGas

ReductionTargets

[Table1.2]KeyContentsofEUCBAM

Country

CarbonNeutrality

TargetYear

NationalGreenhouseGasReductionTargets

CategoryContent

Backgrou?Preventionofcarbonleakage1)duetostrengthenedndenvironmentalregulationsintheEU

EU2050

?55%reduction1990-2030

between

Target

Items

?Totalof6carbon-intensiveitems

-Steel,aluminum,cement,fertilizer,electricity,hydrogen

?Possibilityremainsforadditionofplastics,refinedoilproducts,etc.

US2050

?50-52%reduction2005-2030

between

UK2050

?68%reduction1990-2030

between

Japan2050

?46%reduction2013-2030

between

Implemen

tation

Period

?(Oct2023-Dec2025)Trialimplementation(emissionreportingobligation)

?(AfterJan2026)Fullimplementation(certificatepurchaseobligation)

China2060

?65%reduction2005-2030

between

neutralityby20502,andsubmitteditsNDCStotheUNin20213)(Table1.1)·

?40%reduction2018-2030

between

2050

Korea

Note:1)Interimtargetsforachievingcarbonneutrality

Source:UNDP,UNFCCC

EmissionScope

?Includesindirectemissions2)underspecificconditions

Note:1)Thephenomenonwherecarbon-intensiveindustriesrelocateproductionbasestolow-regulationcountries,maintainingcarbonemissionlevels

2)Carbonemissionsfrompurchasingandusingexternalenergy

1)AccordingtotheΓSpecialReportonGlobalWarmingof1.5°C」publishedin2018bytheIntergovernmentalPanelonClimateChange(IPCC)undertheUN,ifglobaltemperatureriseexceeds+1.5°Ccomparedtopre-industriallevels,analysisshowsthatnegativeimpactsofclimatechangewillincreasedrastically,includingincreasedfrequencyofheatwavesandheavyrainfall,risingsealevels,andlossofecosystemdiversity.

2)Γ2050CarbonNeutralityDeclaration」(PresidentialAddresstotheNationalAssembly,October2020)andΓ2050CarbonNeutralityImplementationStrategy」(December2020)

3)ΓTheRepublicofKorea’sEnhancedUpdateofitsFirstNationallyDeterminedContribution」(AnnouncedOctober2021,SubmittedtoUNDecember2021)

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ivironmentisalsoshiftingtoward

strengtheningcarbonneutralityobligation

theirsupplychainpartnersuserenewcableenergythroughtheRenewable

Electricity100%(RE100)campaign.TheEUisintroducingthecarbonBordler

planstoimposecoststoimported

productsbasedontheircarbonemissionsstartingin2026(Table1.2)·

2.Achievingacarbon-neutraleconomyrequirestheimplementationofdiversecarbonreductionstrategies,withapivotalroleplayedbytechnologiesdesignedtomitigategreenhousegasemissionsandadapttoclimatechange,namelyClimateTechnologies.TheIEA(2021a)presentedthefollowingsevenkeypillarsofdecarbonizationtoachievecarbonneutrality:

①(EnergyEfficiencyImprovement)Reduceenergyconsumptionbyimprovingtechnologyandprocessesinindustry,buildings,andtransportationsectors.

②(DecarbonizedpowerGeneration)Generateelectricityusingdecarbonizedenergysourcessuchassolar,wind,nuclear·power,andhydrogen.

③(ccus)capture,store,orutilizecarbonemittedfromfossilfueluseorindustrialprocesses.

④(Behavioralchange)Inducebehavioralchangesinindividuals,businesses,andgovernmentstoreduceenergyconsumption,andcarbonemissions,

⑤(EnergyTransitionthroughElectrification)convertfossilfuel-basedsystems,suchastransportation,toelectricity.

⑥(EnergyTransitionthroughHydrogenFue1)utilizehydrogenfuelinsteadoffossilfuelsinindustries,heating,andother'applications.

⑦(EnergyTransitionthroughBioenergy)convertenergysourcesinpowergeneration,industry,andothersectorsfronnfossilfuelstobioenergy(organic

matterfromplantsandanimals).

ofvariousclimatetechnologies(Figure1.1).AccordingtotheIEA(2023),approximately35%oftheclimatetechnc

opmentstagesandhavenotyetbeen

commercialized.Therefore,itisnecessiarytopromoteclimatetechnology

4)ΓRE100」isacampaignwherecompaniesvoluntarilypledgetosource100%oftheirelectricityfromrenewableenergysourcessuchassolarandwindpower.LaunchedinSeptember2014,thiscampaignhasattracted434companiesasofNovember2024,with36Koreancompaniesamongitsparticipants(Source:).

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productioncostsofcommercialized

technologieswhilerapidlycommercializingtechnologiesstillunderdevelopment.

ImplementationofCarbonReductionMeasuresforCarbonRequiresUtilizationofVariousClimateTechnologies

NeutralEconomyTransition

[Figure1.1]CarbonReductionMeasuresandKeyClimateTechnologiesforTheir

Implementation

Source:ReorganizedfromIEA(2021a,2023)

3.Inparticular,fosteringclimatetechnologiesisessentialtominimizeeconomiccontractionandcreatenewgrowthenginesduringthetransitiontoacarbonneutraleconomy.TherearebroadlytwoapproachestoachiervingNDCS.Thefirst

approachistoreducetheproduction

totheleveloftheCOVIDCrisis.Forexapreductionrateof4.2%toachieveitsNDCSreductionrateof5.4-6.4%5)duringtheCOVIDCrisisin2020.Thesecondapproachistomaintainproductionvolumeswhilereducingcarbonemissionsin

theproductionprocessbyutilizingclimate:technologies.Thisapproachprovides

anopportunitytosecuretechnologicallead

withoutcausingeconomiccontraction.particularlyinindustriesthatare

ecausetheysupplybasicmaterialsto

otherindustries,suchaschemicalandsti

anteconomicbenefitswhileachieving

carbonneutrality.

5)ThisisanestimationfromLiuetal.(2020)andGlobalCarbonProject(2021).

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4.Moreover,theurgencyofinnovationinclimatetechnologyiscompoundedbythefactthattheKoreaneconomyisexport-drivenandcenteredon

carbon-intensivemanufacturingindustries.ASOf2022,manufacturingindustry

value-addedaccountedfor25.6%ofkorea'sGDP,rankingsecondhighestamong

OECDmembercountriesafterIreland(Figure1.2).ASaresultofthiseconomicstructure,korea'spercapitagreenhouseg:

OECDmembercountries(Figure1.3).Therefore,wheninternationalpressuretc,addresstheclimatecrisisintensifies,suchEU'sCBAM,itislikelytoplaceasig

consequently,climatetechnologyinnovatio

theclimatecrisis,butanessentialtaskforandinternationalcompetitiveness.

KoreaHasaManufacturing-centeredEconomicKorea'sGreenhouseGasEmissionsRelativeto

StructureEconomicScaleAreataHighLevel

[Figure1.2]ShareofManufacturingValue-AddedamongOECDMemberCountries

[Figure1.3]PerCapitaGreenhouseGasEmissions

amongOECDMemberCountries

1Ireland

2Korea

3Turkey

4Mexico

5CzechRep.

6Slovenia

7Japan

8Germany

9SwitzerlandOECD(34)mean

(perGDP%)

38.0

25.622.1

21.5

21.0

19.9

19.2

18.4

18.4

14.9

10203040

1Australia

2Canada

3NewZealand

4Estonia

5Korea

6Mexico

7US

8Colombia

9PolandOECD(38)mean

(percapitatCO2eq)

21.819.4

17.6

17.0

12.6

12.5

11.9

11.6

11.18.8

510152025

Note:1)Asof2022

Source:WorldBank

Note:1)Asof2023

Source:EDGARCommunityGHGDatabase

5.Motivatedbytheaforementionedbackground,thispaperaimstoexaminethecurrentstatusandchallengesofclimatetechnologiesinKorea.TOthisend,

ypatentsbetweenkoreaandleading

countries.chapter3presentsanin-depth

edonthis,chapter4presentspolicy

novationinkorea.Finally,chapter5

synthesizestheentirecontentanddrawskiyimplications.

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2.StylizedFactsofKorea'sClimateTechnologies

6.Climatetechnologies,acompoundwordofClimateandTechnology,refers

totechnologiesthatcontributetogreenhousegasreductionandclimatechangeadaptationwhilegeneratingeconomicreturns6).AccordingtotheIEA(2021b)

andothers,climatetechnologiescanbebro

(Table2.1)

.(EnergysupplyTechnologies)Technologiesthatproducelow-carb)onenergysuchassolarandwindpower.

.(EnablingTechnologies)Technologiesthatstoreanddeliverlow-carbonenergysuchassecondarybatteriesandhydrogenfueltoconsumers,andtechnologiesthatcapture,utilize,andstorecarbongeneratedduringenergyuse,suchasccus.

.(End-useTechnologies)Technologiesthatconvertconsumptilonenergyfromfossilfuelstolow-carbonfuelssuchaselectricityandhydrogen

(electricvehicles,hydrogenreductionsteelmaking,etc.),technologiesthatreducecarbonemissionsbysubstitutingzrawmaterialswithlow-carbonmaterials(eco-friendlybiomaterials,etc.),andtechnologiesforadaptingtoclimatechange(medicalandpharmaceutical,weatherinformationmonitoring,etc.).

6)UNFCCC(2016),PresidentialCommissiononCarbonNeutralityandGreenGrowth(2023)

7)ThePresidentialCommissiononCarbonNeutralityandGreenGrowth(2023)broadlyclassifiedclimatetechnologiesintofivecategories:①CleanTech(renewableandalternativeenergyproductionanddistribution),②CarbonTech(carboncapture,storage,andreduction),③EcoTech(resourcecirculation,low-carbonmaterials,eco-friendlyproductdevelopment),④FoodTech(low-carbonfoodproductionandlivestock),and⑤GeoTech(carbonmonitoring,weatherinformationutilization).Additionally,theΓActonPromotionofTechnologyDevelopmentforCopingWithClimateChange」broadlydividesclimatechangeresponsetechnologiesintogreenhousegasreductiontechnologiesandclimatechangeadaptationtechnologies.Meanwhile,theΓ100CoreTechnologiesforCarbonNeutrality」(May2023),whichthegovernmentisactivelypromotingfordevelopment,consistsof4sectorsand17keyareasasfollows.

100CoreTechnologiesforCarbonNeutrality

Sector(4)

KeyAreas(17)

Num.Tech

?Energy

Transition

-Solarpower,Windpower,Transportandsupply,Zero-carbonpowersupply,storage,Powergrid,Integratedenergysystem,Nuclearpower

Power

35

?Industry

-Steel,Petrochemical,Cement,CCUS,Generalindustry

44

?Transport

-Eco-friendlyvehicles,Carbonneutralships

13

?Buildings·

Environment

-Zero-energybuildings,Environment

8

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ClimateTechnologiesAreBroadlyClassifiedinto①Technologies,and③End-useTechnologies

EnergySupplyTechnologies,②

Enabling

[Table2.1]ClassificationofClimateTechnologies

Content

RepresentativeTechnologyFields

Examples

Energy

Supply

Tech

-Supplyoflow-carbonenergy

?RenewableEnergy

-High-efficiencysolarcells

-Floatingoffshorewindsystem

Enabling

Tech

-Storageandtransportoflow-carbonenergy

-Carboncaptureandremoval

?SecondaryBatteries

-Secondarybatterymodulesandsystems

?HydrogenFuel

-Hydrogenstorageandtransportation

?CCUS

-Directaircapture

End-use

Tech

-Transitiontolow-carbonenergyandrawmaterials

-Improvementofenergyconsumptionefficiency

-Climatechangeadaptation

?ElectricVehicles(EVs)

-Electricdrivemotorsforlargetrucks

?ChemicalandOilRefiningProductionProcess

-Eco-friendlybiomaterials

?SteelandMineral(Cement)ProductionProcess

-Hydrogenreductionsteel-making

?InformationandCommunicationTechnology(ICT)

-Low-powersemiconductors

Note:1)Selectedconsideringthegovernment's「100CoreTechnologiesforCarbonNeutrality」(May2023),Korea'scoretechnologyfields,andthenecessityoftechnologydevelopment(useinmajorexportindustries,corepromisingtechnologies,etc.).Fordetailedinformationonallclimatetechnologyfields,refertoIEA(2020).

Source:ReorganizedfromIEA(2021b)

7.ThisstudyemployspatentdatafromUSPTOtoassessKorea'sinnovation

performanceinclimatetechnology.previousstudieshaveextensivelyutilized

1984,Popp2002,Acemogluetal.2016)s).Inparticular,datafromUSPTOiswidelyutilizedduetotheU.s.'status:astheworld'slargestsinglemarket,

coupledwithitsrobustpatentprotectionsystemandstringentapplicationand

registrationprocedures.consequently,firmisfromvariouscountriesactivelyfile

patentsintheu.s,andthesepatentsare:regardedasbeingofhighquality9)·

boththenationalandfirmlevelsby

8)Itisimportanttonote,however,thatnotallinnovationoutputsarefiledaspatents.Someinnovationsmayforegopatentfilingduetoconcernsabouttechnologymisappropriationorsensitivity.Moreover,innovationoutputsintheservicesectorareoftenprotectedasintellectualpropertyrightsratherthanpatents.However,intellectualpropertydatatendstobelesssystematic,makingitlesssuitableforanalyticalpurposes,andalternativeobjectiveindicatorsofinnovationremainlimited.Consequently,priorstudieshavepredominantlyreliedonpatentdataasaprimarysourceforempiricalanalysis.

9)StudiesutilizingpatentsregisteredwithUSPTOfacetwoprimarylimitations.First,evenhigh-qualitypatentsmaybefiledexclusivelywithothermajorregionalpatentoffices,suchasthoseinEuropeor

Japan,ratherthanintheU.S.Second,duetoregionaladvantagesorpolicyincentivesassociatedwith

theU.S.patentregistrationprocess,innovationperformanceintheU.S.maybeoverestimated.Toaddresstheseconcerns,somestudiesanalyzepatentsregisteredwithtwoormorepatentofficessimultaneously.However,thisapproachsignificantlyreducesthesamplesizeavailableforanalyzingclimatetechnologypatents.Consequently,thisstudyfocusesonpatentsregisteredwiththeUSPTOforitsanalysis.

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irm-patentmatchingdataprovidedby

theOECDSTIMicro-dataLab.climatetechnologypatentswereidentifiedbased

onthecooperativepatentclassification(cl?c)10)system,followingthedefinitions

search.specifically,patentscategorized

「」

「」weredefinedasclimatetechnology

Amorosoetal.2021)11).

8.AcomparativeanalysisofclimatetechnologyinnovationperformanceamongmajorcountriesyieldedthefollowingfindingsforKorea:

①korearanksthirdgloballyinthenumberiofpatentapplications,positioningitasagloballeaderinclimatetechnologyinnovation.

②However,approximately70%ofallc:limatetechnologypatentsareconcentratedwithinfourcompanies,reflectiingaheavyrelianceonalimitednumberoffirmsandspecifictechnologies.

③Furthermore,koreademonstratesnotalbledeficienciesinqualitativedimensions,includingfollow-onimpauct,creativity,versatility,andradicalness,

?[Fact1]ThirdGlobalRankinClimateTechInnovationbyPatentCounts

9.From2011to202112),Korearanksthirdgloballyinthenumberofclimatetechnologypatentapplications,establishingitspositionasoneoftheleadingcountriesinthisdomain(Figure2.1).The"top10leadingcountries13)"collectivelyaccountfor91%ofglobalclimatetechnolcogypatents,servingaskeydriversof

innovationinthisfield.korearanksthirdwithan8%share,followingtheu.s.

(35%)andJapan(27%).Thisperforman

adjustedforpopulationsizebyexaminingthenumberofpatentapplicationsper

10)CPCisaclassificationsystemjointlydevelopedbyUSPTOandtheEuropeanPatentOffice(EPO)toimprovetheefficiencyandaccuracyofpriorartsearches.Introducedin2013,thesystemhasbeenadoptedbytheKoreanIntellectualPropertyOffice(KIPO),whichhasbeenassigningCPCcodestonewlyfiledpatentssince2015.

11)Fordetailedinformationontheclassificationofclimatetechnologypatents,referto<Annex1>.

12)Patentsgenerallyexperienceatimelagofapproximately1to3yearsbetweenapplicationandregistration.Consequently,patentsthathavebeenfiledbutnotyetregisteredareexcludedfromtheobservations.Toaddressthislimitation,theanalysisperiodwasrestrictedtodataupto2021.

13)Thisstudydefinesthe"top10leadingcountries"basedonthenumberofpatentapplications.Ininstanceswherestatisticaldataforcertaincountriesisinsufficient,theterm"top10leadingcountriesexcludingtherespectivecountry"isused.

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10,000people,korearecorded1.6patents,rankingfourthgloballyafter

Luxembourg14)(3.0patents),Japan(2.3patents),andswitzerland(2.2patents).Thisunderscoreskorea'sstrongpositionamongthetop-performingnationsin

climatetechnologyinnovation.

KoreaRanksThirdGloballyinTermsoftheNumberofClimateTechPatentApplications

[Figure2.1]2011–2021TotalNumberofPatentApplicationsinClimateTech

50

40

30

20

10

0

Canada

Netherlands

Switzerland

UK

France

China

Germany

Korea

Japan

US

(1K)(p