In 2005, Korea launched several carbon management R&D projects as one of the governmental global climate change policies, specifically about the CO2 storage in geologic and oceanic reservoirs. CO2 ocean sequestrations have been developed as an effective method to sequester amount capacity of CO2, because the capacity of terrestrial sequestration sites on land is very limited in Korea. However, cost-ineffectiveness has been indicated as one of the key barriers. In this paper, the preliminary evaluation of the technical and economic feasibility by the "Moving Ship" method in Korea is carried out and its prospects are outlined. Also, we try to discuss the issues of elemental technologies and emphasize the necessity of continuing R&D efforts for the effective system development of CO2 ocean sequestration.
The CO2 storages in geological formations such as oil and gas fields, deep saline formation in ocean water column or onto the seafloor from large point sources of CO2 include large fossil fuel or biomass energy facilities and major CO2-emitting industries are considered to be potential technical storage methods. The R&D project for developing CO2 geological sequestration technology aims to establish a technology that provides stable, safe and long-term geological sequestration of CO2 emitted from large-scale sources (Gunter et al. 1997; Gunter et al. 1998; Parson and Keith 1998; Natl. Energy Tech. Lab. 2002). CO2 ocean sequestration is purposeful storage acceleration into the ocean of large amounts of carbon that would accumulate in the atmosphere and naturally enter the ocean over a longer time span (Brewer et al. 1999; Saito et al. 1999; Kvamme 2001; Tsuchiya et al. 2001; Chadwick et al. 2003; Koide et al. 2003). Since 2002, Korea is ranked the ninth CO2 emission country in the world by emitting 450million tons per year (http://co2.kemco.or.kr).
