EU Global Strategy

EU-Korea ETS Project Concludes Successfully

18/06/2019 - 06:43
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Picture: Joelle Hivonnet, Minister Counsellor, delivering Welcome Remarks at the Project Closing Event that took place on 14th June 2019 at Millennium Seoul Hilton Hotel.

Korean Emission Trading system (#KETS) is Asia’s first national #ETS and the second-largest carbon market in the world after the #EU ETS. From 2016 to 2019 #EuropeanUnion supported Republic of Korea in the implementation and operation of the Korean ETS in its initial phase by provision of technical assistance in areas of allocation, auctioning, MRVA (Monitoring, Reporting, Verification, Accreditation), Greenhouse Gases mitigation and carbon price modelling, as well as ETS linking.

Ten companies were awarded certificate and plaques for their scalable, creative, effective, cost-efficient, and socially impactful compliance with KETS: Taegu Tec Ltd., ISU CHEMICAL Co., Ltd., Korea South-East Power Co., Ltd., SK Broadband Co., Ltd., Novelis Korea Limited, SUDOKWON Landfill Site Management Corp., CJ CHEILJEDANG Co., Ltd., POSCO CHEMICAL Co., Ltd., Hankook Tire & Technology Co., Ltd., LG Innotek Co., Ltd.

 

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