• Environmental and Resource Economics Review
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• v.23 no.3
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• pp.453-472
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• 2014

Analyzing the effects of carbon emissions trading, which is scheduled to be introduced in Korea in 2015, requires an accurate assessment of $CO_2$ abatement costs by both industries and firms. Firms faced with regulatory constraints are unlikely to minimize their production costs due to rising production costs caused by allocative inefficiency of inputs. The use of a distance function would results in underestimation of $CO_2$ abatement costs, because it fails to capture the allocative distortion costs. Recognizing the disadvantage of the previous approach, first, this paper tests for allocative efficiency of input for the Korean steel industry over the period 1990-2010, then derives the marginal $CO_2$ abatement costs by applying a cost function approach. The hypothesis of allocative efficiency in inputs is rejected and the steel industry pays an annual average cost of 92,000 won in removing an additional ton of $CO_2$ over the sample period.

• Journal of Wetlands Research
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• v.25 no.1
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• pp.35-47
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• 2023

Korean facility horticulture and hydroponic cultivation methods increase, requiring the management of waste water generated. In this study, the amount of fertilizer contained in the discharged waste liquid was determined. By evaluating this as a price, it was suggested to reduce water treatment costs and recycle fertilizer components. It was evaluated based on the results of major water quality analysis of waste liquid by crop, such as tomatoes, paprika, cucumbers, and strawberries, and in the case of P component, it was analyzed by converting it to the amount of phosphoric acid (P₂O₅). The amount of nitrogen (N) can be calculated by discharging 1,145.90kg·ha^-1 of tomatoes, 920.43kg·ha^-1 of paprika, 804.16kg·ha^-1 of cucumbers, 405.83kg·ha^-1 of strawberries, and the fertilizer content of P₂O₅ is 830.65kg·ha^-1 of paprika, 622.32kg·ha^-1 of tomatoes, 477.67kg·ha^-1 of cucumbers. In addition, trace elements such as potassium (K), calcium (Ca), magnesium (Mg), iron (Fe), and manganese (Mn) were also analyzed to be emitted. The price per kg of each item calculated by averaging the price of fertilizer sold on the market can be evaluated as KRW, N 860.7, P 2,378.2, K 2,121.7, Ca 981.2, Mg 1,036.3, Fe 126,076.9, Mn 62,322.1, Zn 15,825.0, Cu 31,362.0, B 4,238.0, Mo 149,041.7. The annual fertilizer loss amount for each crop was calculated by comprehensively considering the price per kg calculated based on the market price of fertilizer, the concentration of waste by crop analyzed earlier, and the average annual emission of hydroponic cultivation. As a result of the analysis, the average of the four hydroponic crops was 5,475,361.1 won in fertilizer ingredients, with tomatoes valued at 6,995,622.3 won, paprika valued at 7,384,923.8 won, cucumbers valued at 5,091,607.9 won, and strawberries valued at 2,429,290.6 won. It was expected that if hydroponic drainage is managed through self-treatment or threshing before discharge rather than by leaking it into a river and treating it as a pollutant, it can be a valuable reusable fertilizer ingredient along with reducing water treatment costs.

• Journal of Korean Society of Forest Science
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• v.96 no.3
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• pp.235-244
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• 2007

Potentials of AR CDM project in North Korea are assessed and feasible land area for AR CDM project is estimated. According to our estimation, There could be 515,000 hectares of forest lands deforested before 1990 in North Korea and 8,854 hectares at the regional level of Gae-sung City, which are eligible for AR CDM project, based on researches of satellite image analyses conducted from 1980's to 1990's. A baseline scenario assumed 44.73 tones of carbon stored in soil per hectare with no vegetation above ground remained during the project period following the default value of IPCC's Good Practice Guidance for LULUCF considering soil structure, climate and land use of the project area. The scenario also assumes that black rocust (Robinia pseudoacacia) is planted and the CDM project is implemented for 20 years. The costs for producing greenhouse gases CER (certified emission reduction) credits include costs of tree planting and forest management, and costs of project negotiation and transactions for issuing the credits. It is estimated that 376 tones of carbon dioxide per hectare can be accumulated and 503 temporary CER credits per hectare and 265 long-term CER credits per hectare could be produced during the project period. It is estimated to cost US$ 4.04 and US$ 7.67 to provide one unit of temporary credit and long-term credit, respectively. These values can be regarded as the cost of conferring emission commitment of a country or a private entity. However, it is not clear which option is better economically because the replacement periods are different in these two cases.

• Proceedings of the Korea Water Resources Association Conference
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• 2020.06a
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• pp.196-196
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• 2020

토양은 육상생태계에 있어 가장 많은 탄소를 저장하고 있으며, 대기 중 CO₂를 토양탄소로 전환하여 쉽게 방출되지 않고 토양 내에 저장하는 역할을 한다. 이렇듯 토양 유기탄소 배출관리는 기후변화에 있어 중요한 문제로 대두되고 있다. 하지만 토지이용의 변화와 무분별한 관리로 인하여 토양내에 저장되어 있는 토양 탄소배출이 지속적으로 증가 하고 있다. 따라서 토양탄소 배출로 인한 경제적 피해를 수치적으로 표현하는 가치평가가 필요하다. 현재 토양에 저장된 토양유기탄소 함량을 토양통별로 토양정보시스템에서 제공하고 있지만 국내 토양 토양탄소 저장량의 산정에 관한 연구는 미비한 실정이다. 따라서 본 연구에서는 토양 특성을 이용하여 토양 유기탄소 저장량을 산정하고, 산정된 토양 유기탄소 저장량과 정밀토양도를 이용하여 남한의 토양 유기탄소 가치평가를 실시하였다. 토양의 특성은 물리적 특성인 모래(Sand), 이토(Silt), 점토(Clay), 자갈(Gravel)함량과 화학적 특성인 유기물함량(Organic Matter)를 사용하였다. 토양 유기탄소저장량 산정의 검증을 위하여 전라남도 진도군의 토양유기탄소 저장량을 산정한 결과 486,696t으로, 선행연구와 유사한 결과를 나타내었다. 이러한 검증 결과를 바탕으로 남한의 토양 유기탄소 저장량을 산정한 결과 305.54Mt의 유기탄소가 저장된 것으로 나타났으며, 단위 면적당 유기탄소 저장량의 경우 3.11kg/㎡으로 나타났다. 또한 2019년 상반기 기준 평균 탄소거래권 가격(27,500원/톤)을 이용하여 우리나라 국토의 토양탄소 저장량 가치평가를 실시한 결과, 약 8조 4천억원의 경제적 가치가 있는 것으로 나타났다. 본 연구는 토양의 물리적·화학적 특성을 이용하여 토양의 유기탄소 저장량을 산정하였으며, 토양에 저장되어 있는 유기탄소의 가치평가를 수행하였다. 본 연구결과는 농업, 수문, 기후변화 등 다양한 분야에서 필요로 하는 기초자료로 활용될 수 있을 것으로 판단된다.

• Korea Trade Review
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• v.48 no.4
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• pp.189-208
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• 2023

This paper analyzed the dynamic conditional correlation between the Korean ETS market, energy market and stock market. This paper conducted an empirical analysis using daily data of Korea's carbon credit trading price, WTI crude oil futures price, and KOSPI index from February 2, 2015 to December 30, 2021. First, the volatility of the three markets was analyzed using the GARCH model, and then the dynamic conditional correlations between the three markets were studied using the bivariate DCC-GARCH model. The research results are as follows. First, it was found that the Korean ETS market has a higher rate of return and higher investment risk than the stock market. Second, the yield volatility of the Korean ETS market was found to be most affected by external shocks and least affected by the volatility information of the market itself. Third, the correlation between the Korean ETS market and the stock market was stronger than that of the WTI crude oil futures market. This paper analyzed the correlation between the Korean ETS market, energy market, and stock market and confirmed that the level of financialization in the Korean ETS market is quite low.

• Environmental and Resource Economics Review
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• v.26 no.4
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• pp.577-612
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• 2017

In response to climate change, Korea is attempting to shift the paradigm of energy and climate change policies by introducing carbon pricing based on market mechanisms. While policy adoption is proceeding at a rapid pace, the introduction of carbon pricing has been faced with great opposition from industry. This study measures to what extent Korean companies understand and accept carbon pricing, using data from a questionnaire survey covering energy consuming companies in 2012, when discussions between the government and such companies about the introduction of a domestic emission trading system were active. It further identifies how preparations and practices for carbon and energy management of companies correlate with their policy understanding and acceptance. The analysis results show that the surveyed companies indicate moderate understanding of, as well as resistance to carbon pricing policies, while appreciating the economic incentives and accepting the mandatory regulations in this phase. Companies' understanding is more related to characteristics, i.e., sector, size, etc. than external pressures. This study found that the extent to which companies understand policy is the essential factor in their policy acceptance and related practices. In particular, understanding of carbon policy significantly influences their managerial practices and voluntary activities for carbon and energy practices. This study substantiates the correlation between the level of policy understanding of a company and its carbon and energy practices - something that all countries seeking to introduce carbon pricing in response to climate change should consider prior to policy actually being implemented; in other words, enhancing the understanding of major policy subjects of the new instrument is a key policy strategy that should be elaborated as it will lead to better performance of companies and smoother policy implementation.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.12 no.1
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• pp.121-135
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• 2013

This paper propose an efficient algorithm for selecting electric bus charging facility location. In nature, the optimal charging facility location problem is similar to Set Covering Problem. Set Covering Problem is the problem of covering all the rows of an $m{\times}n$ matrix of ones and zeros by a subset of columns with a minimal cost. It has many practical applications of modeling of real world problems. The Set Covering Problem has been proven to be NP-Complete. In order to overcome the computational complexity involved in seeking optimal solutions, this paper present an enhanced greedy algorithm and simulated annealing algorithm. In this paper, we apply the developed algorithm to Seoul's public bus system.

• Korean Chemical Engineering Research
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• v.50 no.4
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• pp.646-653
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• 2012

We studied the economic evaluations on Korea Institute of Energy Research (KIER)'s $CO_2$ capture process using dry sorbents, and compared the results with those of comparable technologies. Capital and operating costs of the $CO_2$ capture system for 500 MW coal fired power plant were estimated to determine the economic feasibility. LCOE (Levelized Cost of Energy) and $CO_2$ capture cost appeared 32.46$/MWh and 28.15$/ton$CO_2$, respectively. The internal rate of return (IRR), the net present values (NPV), and the payback period (PBP), were calculated by assuming several variables. As the result of calculation, IRR of KIER's $CO_2$ capture system was 15%, NPV was calculated 6,631,000$, and PBP was 5.93 years at $50/t$CO_2$ of CER price. Consequently, this process can compete with other comparative processes using dry sorbents.

• Journal of IKEEE
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• v.19 no.3
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• pp.295-303
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• 2015

Considering to Energy Storage System (ESS) is a global trend In order to reduce global warming and carbon emissions. South Korea has announced various policies to vitalize the development and uptake of renewable energy. South Korea is planning the cumulative capacity of ESS of two million kW in 2020. According to the government support and development of technology companies, the battery of ESS prices are expected to fall gradually. In this paper, we develop a planning model that take into account the supply expansion of technology of ESS and prices. Based on planning model, we analyze the cost of ESS linked with wind power and the revenue for trading electricity and renewable energy certifications.

• Bulletin of Korea Environmental Preservation Association
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• s.379
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• pp.14-29
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• 2009

최근 세계 경제는 사상 유래를 찾기 힘든 경제위기에 홍역을 앓고 있다. 국제유가를 비롯한 원자재가격은 수급불균형과 정치적 이슈, 그리고 투기자본의 유입이 어우러져 급등락을 거듭하고 있다. 또한, 지구온난화를 막기 위해 국제사회에서 추진하고 있는 기후변화협약도 큰 어려움을 겪고 있다. 선진국들은 배출권 거래제도 시행, 탄소세 도입 등을 통해 본격적인 환경 무역시대가 도래에 대비하고 있으며, 포스트 교토체제에 대한 협상도 본격화 되고 있어 대응이 시급한 실정이다. 자원 환경위기의 시대에 녹색성장은 불가피한 선택이 되었으며 우리나라에서도 온실가스 감축을 위해 많은 노력을 하고 있다. 정부에서는 탄소포인트제도 도입과 10대 녹색기술 산업 육성, 그린 뉴딜을 통한 녹색일자리 4만 3천개 창출 등 기후변화 대응을 위한 정책들을 추진하고 있으며, 또한 저탄소 녹색성장의 한 주축으로 신재생 에너지 기술개발 및 보급의 확대를 통해 세계시장 선점을 위해 매진하고 있다. 환경부에서는 폐기물에너지화, 기후변화대응, 환경산업육성 등 '저탄소 녹색성장'을 이끌 사업과 '경제 살리기'에 역점을 두고 2009년도에는 환경부 소관예산 '08년 예산 3조 5,914억원 대비 5,008억원(13.9%) 증액된 총 4조 922억원을 투자할 계획이다. 이에 본지에서는 지난호에 이어 저탄소 녹색성장을 위한 녹색자원 기술 육성II로 주제를 잡고 "온 국민이 참여하는 기후변화 대응 정책 추진", "녹색성장 정책 추진에 있어 기업체 지원방향", "우리나라 신재생에너지 기술개발현황과 앞으로의 과제", "가정에서 온실 가스 줄인만큼 혜택받는 탄소은행"등에 대하여 살펴보고자 한다.