South Korea is moving forward with plans to establish a voluntary carbon market exchange, with the launch targeted for later this year. The initiative, announced by the Ministry of Economy and Finance, is designed to boost demand for carbon credits and strengthen the country’s greenhouse gas (GHG) reduction framework.
View of Namsan Park, Seoul’s most famous natural area, with the city’s iconic N Seoul Tower. AI generated picture.
At a meeting in Seoul, First Vice Minister Lee Hyung-il presented the Korean Carbon Credit Activation Plan alongside representatives from the Korea Exchange, Korea Chamber of Commerce and Industry, and companies such as Greenery, Namoo EnR, LD Carbon, Winkle, and Carbon Energy.
The planned exchange will enable trading of certified voluntary carbon credits while expanding demand beyond the scope of the country’s existing emissions trading system. According to the ministry, a central focus will be on robust verification and certification measures to prevent greenwashing and ensure transparency in the market.
Lee emphasised the need for ‘active participation from the private sector to revitalise the carbon credit market’, adding that the platform will form a cornerstone for South Korea’s carbon credit framework in 2025, a critical milestone on the path to achieving the 2030 Nationally Determined Contribution (NDC) targets.
Under its NDC, South Korea is committed to cutting GHG emissions by 40% from 2018 levels by 2030. The government also plans to secure 37.5 million carbon credits from Article 6 projects abroad to help meet this target. The voluntary market is expected to expand in parallel with the global implementation of Article 6 of the Paris Agreement, supported by guidelines agreed at COP29 that enable transparent cross-border trading.
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Before officially launching the exchange, authorities will gather public input and consult with relevant organisations. This staged approach, the government noted, will support alignment between ministries and accelerate project development.
Industry analysts highlight that South Korea has already signed agreements with 11 countries and initiated several international carbon projects. While current project volumes remain below the 37.5 million tonnes required, the new market framework is expected to strengthen coordination and unlock further opportunities to meet the country’s environmental commitments.
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As South Korea prepares to roll out its voluntary carbon exchange, the global momentum for credible carbon markets is accelerating. Businesses and investors alike are seeking reliable, high-quality credits that deliver tangible environmental benefits and community impact. At DGB Group, we meet this demand through large-scale nature-based projects that restore ecosystems, safeguard biodiversity, and strengthen local livelihoods. With international frameworks like Article 6 opening new pathways for transparent trading, now is the time to secure premium carbon units that set the standard for excellence and long-term value.
