First Basic Plan for 2015-2024 - Domestic Emission Trading Scheme

Korea introduced in 2015 its national emissions trading scheme. 
In a first phase, the power market will conduct a demonstration project, based on the baseline matrix scheme, and in the next phase other industries like refinery, petrochemical, and steel by electric furnace will constitute a new carbon market. In the last phase, a general emission trading market will be established where the government itself participate as a buyer to absorb the credit offered by the renewable energy and ESCO (energy service company) projects.

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