Korea Overseas Infrastructure & Urban Development Corporation (KIND, President Kim Bok-hwan) announced that it has joined hands with Sudokwon Landfill Site Management Corporation (SL Corporation) and Jeil Engineering to jointly promote an international greenhouse gas reduction project at the San Miguel landfill site in Bolivia. The three organizations signed a Memorandum of Understanding (MOU) during the Korea–Bolivia greenhouse gas reduction project signing ceremony held on Friday, April 24, at The Plaza Hotel in Seoul, marking the first step toward joint project development.
The project includes support funding from the Ministry of Climate, Energy and Environment, with construction targeted to begin in 2027. The project site is the San Miguel landfill in Santa Cruz, Bolivia, where methane generated from the landfill will be captured and flared, reducing approximately 275,000 tons of greenhouse gas emissions annually. Over a 15-year operating period, the cumulative reduction is expected to reach around 4 million tons. Emission reduction results will be officially certified following third-party verification in accordance with international standards.
A KIND official stated, “Through the commercialization of the Bolivia greenhouse gas reduction project, we aim to export SL Corporation’s landfill operation technology and Korea’s EPC capabilities overseas, while transferring the certified emission reductions back to Korea to contribute to the achievement of the Republic of Korea’s 2035 Nationally Determined Contribution (NDC) target.” KIND had selected the project in 2023 as a feasibility study (F/S) support project and has actively supported Korean companies in developing international greenhouse gas reduction projects from the early stages.
Korea’s 2035 NDC was officially announced at the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30). Under the target, Korea aims to reduce greenhouse gas emissions by 53–61% from 2018 levels by 2035. Since domestic reductions alone may not be sufficient to meet the target, Korea plans to utilize overseas emission reduction credits. As a result, international greenhouse gas reduction projects are gaining greater attention as a key supplementary measure for achieving carbon neutrality goals.
With this MOU, KIND and SL Corporation are expected to further strengthen their strategic cooperation in overseas investment and development projects and establish themselves as leading players in the field of international greenhouse gas reduction initiatives.