Korean Emissions Trading System

A cap-and-trade program implemented by South Korea to manage and reduce greenhouse gas emissions. Under this system, a cap is set on the total amount of emissions that covered sectors can emit, and companies are allocated or purchase emission allowances. They can trade these allowances in the market to meet their emission reduction targets. The KETS aims to incentivize cost-effective emission reductions, promote environmental sustainability, and support South Korea's climate goals.