Sejong, March 2 - The Ministry of Environment (Minister Han Wha-jin) announced that it has recently launched a task force to assist South Korean companies in responding to the EU's Carbon Border Adjustment Mechanism (CBAM). Under the leadership of the Deputy Minister of the Climate Change and Carbon Neutral Policy Office, the task force consists of experts from the affiliates of the Ministry of Environment, including the National Institute of Environmental Research (NIER), the Greenhouse Gas Inventory & Research Center (GIR), the Korea Environment Corporation (K-eco), and the Korea Environmental Industry & Technology Institute (KEITI). The task force will be responsible for seeking ways to support systematically by classifying short-term tasks, such as assisting with mandatory reporting of carbon emissions in line with EU requirements, and mid-and long-term tasks, such as carbon emissions verified domestically will make used in the EU. 

As the task force's first activity, the National Institute of Environmental Research (NIER) will organize a technology expert committee to establish guidelines for carbon emission calculation. On February 28, 2023, NIER hosted the committee's first meeting in Seoul. In January 2022, NIER was recognized for its global capabilities in verifying greenhouse gas emissions by signing the EU's Mutual Recognition Agreements (MRAs) for conformity assessment. Based on this, NIER will play a pivotal role in calculating and verifying carbon emissions. In the technology expert committee, experts from the Ministry of Environment, NIER, K-eco, KEITI, greenhouse gas verification organizations in Korea, and steel, aluminum, and cement companies that are subject to the EU's CBAM will participate. 

During the first meeting, attendees discussed how to operate the committee in 2023 and suggestions from the companies for responding to the EU's CBAM. NIER introduced the direction of developing the guideline for carbon emissions calculation and verification for CBAM. Then, there were discussions on public-private partnerships for the trial calculation of greenhouse gases by industry. Participating companies also shared how they currently respond to the CBAM with NIER. NIER sought customized support measures for companies.

With the taskforce, the Ministry of Environment plans to support South Korean companies to efficiently follow and comply with the CBAM by providing guidelines on carbon emission calculation, verification, and reports by item, operating a help desk to inform CBAM to companies, and providing related training.

Keum Han-seung, Deputy Minister of Climate Change and Carbon Neutral Policy Office, said, "The Ministry of Environment will provide detailed support regarding the calculation and reporting of carbon emissions so that South Korean exporting companies will not lose their competitiveness due to CBAM."

Contact: Kim Min-ji, Deputy Director

Climate Economy Division / +82-(0)44-201-6590

Foreign Media Contact: Chun Minjo(Rachel)

+82-(0)44-201-6055 / rachelmchun@korea.kr