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KCCI, Ministry of Economy and Finance, and GCC Partner to Globalize Korea's Voluntary Carbon Market
Miscellaneous · Miscellaneous · yonhap_finance · 2026-09-02
The Korea Chamber of Commerce and Industry and the government are collaborating with GCC to align Korea's voluntary carbon market with global standards.
What Happened
Global Partnership: The Korea Chamber of Commerce and Industry (KCCI), the Ministry of Economy and Finance, and the Global Carbon Council (GCC) have signed an MOU to revitalize the Korean Voluntary Carbon Market (K-VCM). This partnership aims to enhance the international recognition of domestic carbon reduction credits.
Market Development Strategy: The parties plan to upgrade certification systems to meet international standards and build robust digital infrastructure. By leveraging GCC's expertise, they intend to elevate domestic carbon reduction methodologies to global standards and expand their network into the Middle East.
Regulatory Framework: The Ministry of Economy and Finance is pushing for legislation to foster the voluntary carbon market by the end of this year. Additionally, plans are underway to open a carbon credit trading market within the Korea Exchange to improve market transparency and accessibility.
Corporate Participation: Major corporations such as Samsung Electronics and SK Hynix are already actively participating in the carbon reduction certification process. This collaboration is expected to significantly bolster the ability of Korean firms to meet global carbon neutrality goals.
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