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The South Korean government recently approved the previously announced limit trading system for carbon reduction, which will be established before 2015. South Korea will therefore likely become the first country in Asia to establish such a carbon trading system.
As some large companies believe that the system will affect the competitiveness of the company, the Korean government eventually approved the plan to postpone the carbon emissions trading system by two years until 2015. It is said that the Korean emission limit will apply to companies with annual carbon dioxide emissions of 125,000 tons or more and workplaces with annual emissions of 25,000 tons or more. Some specific terms have not yet been finalized. South Korea is the seventh largest carbon emitter in the world. In 2011, Korea’s greenhouse gas emissions increased from 350 million tons in 1990 to about 640 million tons.
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