Press Release

Board View

10th Anniversary of the Introduction of the Emissions Trading System... Leading Greenhouse Gas Reduction Through Market Principles

▷ Ministry of Environment, Ministry of Economy and Finance, Korea Exchange, and Korea Environment Corporation hold the 10th anniversary commemorative event for the emissions trading system at the Korea Exchange

▷ Public-private partnership agreement for the introduction of emissions-linked financial products is also signed


The Ministry of Environment (Minister Kim Wansup), together with the Ministry of Economy and Finance, the Korea Exchange, and the Korea Environment Corporation, will hold a ceremony on January 22 in the afternoon at the Korea Exchange Seoul headquarters (located in Yeouido, Seoul) to commemorate the 10th anniversary of the implementation of the greenhouse gas emissions trading system and the market launch.


The greenhouse gas emissions trading system, which began trading on January 12, 2015, sets emission allowances (emission permits) for high-emission companies and allows trading of these permits between companies with surplus and deficit. 


This system has established itself as a key means of reducing greenhouse gases in Korea, with 74% of the nation’s greenhouse gas emissions managed through it. 

  

In particular, the volume of emissions trading, which was 5.66 million tons in the early stages of the system in 2015, increased approximately 20 times to 111.24 million tons as of 2024. 


This commemorative event, under the theme “The Second Leap of the Emissions Trading System,” will bring together government officials, the National Assembly, and industry representatives to evaluate past achievements and discuss future development plans.


The event will consist of two parts: a commemorative ceremony (Part 1) and a discussion conference (Part 2). It will be broadcast live online via YouTube* from 2 PM on the same day.

* Search for “Ministry of Environment LIVE” or “Korea Exchange YouTube” on YouTube.


During the commemorative ceremony, awards will be presented to individuals and organizations, including business entities eligible for allocation, local governments, and related institutions, that have worked hard in various fields to reduce greenhouse gases and promote the emissions trading market. 


In addition, an agreement will be made with relevant institutions* to introduce financial products linked to emission permits to revitalize the emissions trading market. Through this agreement, the Ministry of Environment and other relevant institutions expect to expand the participation of trading entities in the emissions market and establish a foundation for cooperation in introducing various emissions-linked financial products.

* Ministry of Environment, Financial Supervisory Service, Korea Exchange, Korea Financial Investment Association

 

In Part 2 of the discussion conference, under the theme “Significance of Establishing the Basic Plan for the 4th Commitment Period and Development Plans for the Emissions Trading System,” participants from the government, academia, and industry will present directions for the future of the emissions trading system and engage in a Q&A and discussion session.


Minister of Environment Kim Wansup stated, “We must combine everyone’s efforts to simultaneously achieve greenhouse gas reduction and strengthen industrial competitiveness.” He added, “Using this commemorative event as an opportunity, we will strive to further advance the emissions trading system so that it can play a key role in Korea's carbon neutrality.” 


Attachments 1. Introduction to the Greenhouse Gas Emissions Trading System.



For further information, please contact the Public Relations Division. 

Contact person: Gina Lee, foreign media spokesperson

Phone: +82-44-201-6055

Email: gcjgina @gmail.com