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Overview
Type:
Governmental
Status:
Implemented in 2015
Administering Jurisdiction or Organization:
Korea, Rep.
Description
The Republic of Korea offset credit mechanism was implemented to provide the offset credits for use within the Korea ETS. The offset credit(KOC) can be issued not only for domestic carbon reduction projects that are not covered by the ETS, but also for the International Korean projects that meet Article 6.2 and 6.4 of Paris Agreement. KOCs must be further converted into Korean Credit Units by the Korean government before it can be used for compliance obligations.
Recent Developments
Not Specified
Relation to Compliance Carbon Pricing Instruments or other Voluntary Schemes in the country
Korea ETS
Eligible Activities
Energy Efficiency / Fuel Switching
Industrial Gases/Manufacturing
Renewable energy
Transport
Waste
Cumulative Project Registrations
183%
Change
Change
Cumulative Issued Credits
KRW 8,130 - 11,850/tCO2e (US$5.72-8.33/tCO2e) in 2025
Range
0.837215286
Change
Change