Manya Rathore
Research expert covering India
Carbon pricing in South Korea - Statistics & Facts
Carbon pricing has become a key pillar in South Korea’s plans toward carbon neutrality by 2050. Launched in 2015, South Korea’s Emission Trading Scheme (K-ETS) is a national carbon pricing market mechanism to incentivize carbon reduction and was the first of its kind in East Asia. Since then, greenhouse gas emissions have decreased overall. However, the country is not expected to meet its Paris Agreement targets on its current track. While the challenge looms large, the efforts of the K-ETS alongside progressive corporate action hold hope for improvement in the future.
