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2 clusters · 14 sources · 5 days · First seen 5 days ago · Last updated about 13 hours ago

South Korea green transformation and carbon market strategy

Overview

South Korea has initiated a large-scale strategy to manage its energy transition and climate goals. The government first unveiled the Korea Green Transformation (K-GX) strategy, a plan to invest approximately $747 billion by 2035 to drive industrial decarbonization and renewable energy capacity. This initiative targets high-emission sectors like steel and semiconductors, with the goal of reaching carbon neutrality by 2050.

Following this, the government announced further measures to support its climate strategy through the ‘Global Verified Carbon Market’ (GVCM). Scheduled for full operation next year, this initiative intends to use blockchain technology to record greenhouse gas reduction data and is exploring the issuance of carbon credits as digital assets to facilitate broader trading participation.

Entities

South Korean government · Korea Exchange · Ember · Lee Hyung-il · Global Energy Monitor

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The South Korean government will establish a 3 trillion won ‘Overseas Construction New Strategic Fund’. www.imaeil.com · www.seoul.co.kr
[● 2 SOURCES] Support for overseas projects will shift from individual project units to country- or region-based joint investment platforms. www.imaeil.com · www.seoul.co.kr
[● 2 SOURCES] South Korea's current account surplus reached $46.11 billion in August. www.imaeil.com · www.seoul.co.kr
[○ 1 SOURCE] The government will use 1 trillion won in fiscal funds as seed money for the construction fund. www.imaeil.com
[○ 1 SOURCE] The government will begin full operations of the Global Verified Carbon Market (GVCM) next year. biz.heraldcorp.com
[○ 1 SOURCE] Core information regarding carbon credits will be recorded on a blockchain. biz.heraldcorp.com
[○ 1 SOURCE] The government is considering issuing carbon credits in the form of digital assets. biz.heraldcorp.com
[○ 1 SOURCE] The government plans to increase package-style orders combining development, construction, and maintenance to boost domestic supply and jobs. www.imaeil.com

Timeline

about 13 hours ago

[BUSINESS] 4 sources
South Korea to launch 3 trillion won construction fund and carbon market
South Korea will launch a 3 trillion won overseas construction fund and begin operating a blockchain-based Global Verified Carbon Market next year to bolster economic and climate resilience.
5 days ago

[BUSINESS] 10 sources
South Korea unveils $747 billion green transformation plan through 2035
South Korea unveiled its K-GX strategy, a $747 billion plan through 2035 to expand renewable energy to 100GW by 2030 and decarbonize heavy industries like steel and semiconductors.

Sources

biz.heraldcorp.com · energy-news.co.kr · europesays.com · fr.businessam.be · hani.co.kr · imaeil.com · pv-tech.org · sateconomy.co.kr · saurenergy.com · seoul.co.kr · socialvalue.kr · techholic.co.kr · tokenpost.kr · toray.co.jp