South Korea: Domestic emission trading

The Emissions Trading Scheme is being introduced in stages.  The first stage involves a demonstration project, based on the baseline matrix scheme.  Other industries like refining, petrochemical, and steel by electric furnace will join and create a new carbon market in the second phase. In the final phase, a general emission trading market will be established.  The government will participate as a buyer to absorb the credit offered by the renewable energy and ESCO projects. 

Date Implemented: 2002

Status: In Force; Framework Policy