The Study Of South Korea’s Greenhouse Gas Emission Transaction System

As a developed Asian country,South Korea’s economy ranks among the top in the world,but it is accompanied by the increasingly serious problem of greenhouse gas emissions.In order to effectively curb the excessive growth of greenhouse gas emissions,South Korea established and implemented its own greenhouse gas emission trading system,drawing on the advanced experience of other countries in implementing greenhouse gas emission trading system.This paper consists of six chapters except the introduction.The first chapter introduces the theoretical basis of greenhouse gas emission trading system and the cause of the problem.Emissions trading,also known as cap-and-trade,is a cost-effective way to reduce greenhouse gas emissions.The greenhouse gas emission trading system has its solid theoretical foundation,both property rights theory and externality theory show that market incentive mechanism will play an important role in atmospheric environmental governance.Chapter two summarizes the legislative situation of Greenhouse gas emission trading system in South Korea.In order to effectively achieve the national greenhouse gas emission reduction target and carbon neutrality commitment,The Republic of Korea enacted the Greenhouse Gas Emission Quota Allocation and Trading Act and the Implementation Act of the Greenhouse Gas Emission Quota Allocation and Trading Act,together with relevant supporting regulations,which laid a legal foundation for the implementation of the greenhouse gas emission trading system.Chapter three and Chapter four respectively introduce the main content of the greenhouse gas emission trading system in Korea from the basic provisions and specific implementation rules.Chapter five summarizes and reflects on the practical effect of The greenhouse gas emission trading system in South Korea.After two planning periods,Korea’s greenhouse gas emission trading system has effectively reduced the total amount of greenhouse gas emissions,making an important contribution to the world’s greenhouse gas emission reduction.But in the implementation of the system also exposed many problems,such as the flexibility of the emission trading mechanism is still defective,the enthusiasm of enterprises to participate in the greenhouse gas emission trading is insufficient.In order to effectively solve the above problems,it is necessary to explore the activation of the emission trading market as soon as possible,strengthen the linkage at home and abroad and international cooperation,so as to promote the better implementation of the greenhouse gas emission trading system.Chapter six points out the shortcomings and improvement of China’s current carbon emission trading system based on Korea’s greenhouse gas emission trading system.China,South Korea’s neighbor and a signatory to the Paris Agreement,has set up a national carbon trading market to peak carbon emissions by 2030 and become carbon neutral by 2060.However,there are some problems such as imperfect legislation of carbon emission trading,imperfect mechanism of carbon emission trading market,lack of overall planning of carbon emission trading,and lagging international cooperation.China needs to improve the carbon emission trading system from the above problems.