B-PMR Mission in Seoul, Republic of Korea, 2015

In April 2011, the South Korean government released its final draft for an emissions trading system, modeled on the EU ETS that outlines a three-phase program. This program, however, is not limited to a ten-year term of operation. Korea became the first Asian country to pass a national cap-and-trade system when the National Assembly passed this bill on May 2, 2012 almost unanimously. Emissions trading in Korea began on January 1, 2015. The system was designed to cater towards the opinions of stakeholders and industry, as well as accounting for South Korea’s international competitiveness.

South Korea is the first Asian country to pass a national economy-wide ETS into law, and it is on track to become the second Asian country to implement its national economy-wide ETS.

IETA held its 2nd BPMR Mission to Korea in March, 2015. Below please find videos, workbooks (in English and Korean), and presentations.

Main points of the mission:

Industry readiness: Improve the understanding and knowledge of Korean industry on the role and function of a GHG emissions trading scheme.
Knowledge transfer: Enhance the ability and skills of Korean industry to participate in the Korean ETS (K-ETS).
Policy preparation: Assist the competent authorities in Korea to find out how to prepare and develop procedures for participation by industrial emitters of the K-ETS, and to gather their opinions and feedback on industry readiness.