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[THE INVESTOR] The government will update the country’s emissions trading system to allocate more permits to industries that claim shortage, Vice Minister of Trade, Industry and Energy Woo Tae-hee said on July 18.
“(The Energy Ministry) will work with the Ministry of Strategy and Finance, and related ministries to improve the system,” Woo said.
“(The Energy Ministry) will work with the Ministry of Strategy and Finance, and related ministries to improve the system,” Woo said.
“In the mid- to long-term, a support system will be established to encourage the industry to reduce emissions, and improve the system so that (corporations) will expand emission-cutting efforts.”
Since emissions trading was introduced in January 2015, a number of sectors, including semiconductor and petrochemicals industries, have criticized the system saying that they were given too little credit.
The critics have also voiced views that emission-cutting measures taken before emission trading was introduced must be recognized.
By Choi He-suk (cheesuk@heraldcorp.com)
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Articles by Korea Herald
