• 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.

• Journal of Korean Society of Transportation
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• v.28 no.6
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• pp.33-42
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• 2010

Recently, the reduction of greenhouse gases(GHG) for climate change is the most important international issue. In order to control efficiency GHG emission rate reduction, it is essential to establish GHG emission inventory preferentially. The emission of ships that are emitting its $CO_2$ in international waters is becoming chief among the issues which country is put under an obligation. In the IMO reports, shipping is estimate to emit 1,046million tonnes of $CO_2$, which corresponds to 3.3% of global emission during 2007. International shipping is estimated to have emitted 870 million tonnes, about 2.7% of global emission of $CO_2$ in 2007. In this study, the general information of GHG emission, based on fuel consumption statistic, Tier 1, and the emission inventory is calculated to break down in to domestic and international emission. The GHG emission from ships in Korea was total 31,646 Gg $CO_2$-eq in 2009, which is included fishing, Korea flag coastal ship, Korea flag ocean going ship and foreign flag ships. And domestic emission and international emission was 5,398Gg $CO_2$-eq, 7,630Gg $CO_2$-eq and foreign flag ship was 18,618Gg $CO_2$-eq respectively.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.61-87
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• 1992

Reducing the level of greenhouse gas emissions is necessary to mitigate global warming. One of the most feasible methods to reduce emissions would be to conserve energy and substitute fossil fuels. Yet reducing emissions entails huge financial costs, so it is advisable to employ cost-effective economic instruments such as a carbon tax or tradeable emissions permits. Assuming that the proper economic tools will be used in the future, we calculated the optimal level of emissions reduction for Korea. We applied to our cost-benefit analysis Nordhaus' scenario regarding the economic damage from a $3^{\circ}C$ rise in global temperatures, which is the calculated result when the greenhouse gas level doubles. The result of our analysis based on the 1990 data indicates that the optimal level of emissions reduction ranges from 2% to 15 % of current emissions depending on the value of damage parameters. We also found that the amount of emissions must be reduced will increase if action is postponed, when the development of climate engineering technology or more efficient use of energy is expected. In addition, we discussed the advantages and disadvantages of the economic instruments available to implement emissions reduction. Tradeable permits and carbon tax are equivalent in their cost-effectiveness, but have different implications in practice.

• International Area Studies Review
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• v.15 no.2
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• pp.427-447
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• 2011

In global, there is an active movement to reduce the green house gas. Allowance and carbon tax are the one of effective alternatives to mitigate green gas effect. In addition, the clean development machinism(CDM) can be applied between the ANNEX 1 and developing countries. It could be an one good solution to reduce the GHG. In the Northern Asia, the CDM can be the one of the possible solution to reduce the GHG because the Japan has a responsibility to reduce GHG and the China and Korea have a room to supply CDM credit. It is suffice to say that if these three countries decide to collaborate, the new international carbon market can be established that can be the similar form of EU-ETS. It is clear that few barriers must be removed to launched such new form of carbon market. Protection of domestic technology, excessive financial request of business opportunities by CDM, and irrational needs of carbon credit that created by CDM, listed constraints define as an one single word, the national selfishness. Once it is cleared, there is high possibility that the Northern Asia CDM trading system can be launched.

• Environmental and Resource Economics Review
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• v.32 no.1
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• pp.47-75
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• 2023

Compared to the EU, which legislates the Carbon Border Adjustment System (CBAM), the United States' carbon border adjustment policy movement is still relatively slow. Recently, however, a related bill has been proposed in the United States, and research institutes have been presenting research results on how to introduce an upstream carbon tax rather than an emission trading system and carry out carbon border adjustment based on it. Therefore, in this study, we looked at the economic and environmental effects of introducing this type of upstream carbon tax and carbon border adjustment in Korea. If an upstream carbon tax of KRW 30,000 per ton of CO₂ is applied to the net supply of domestic fossil energy, the expected carbon tax revenue is approximately KRW 22.9961 trillion, equivalent to about 5.7% of the total revenue of the Korean government of KRW 402 trillion in 2019. In addition, the carbon dioxide content of the steel sector, calculated based on the energy supply and demand status of the steel sector, which emits the most greenhouse gas emissions in Korea and has a considerable amount of overseas exports, was 106.22 million tons of CO₂. On the other hand, assuming that the upstream carbon tax of 30,000 won per ton of CO₂ embodied is directly passed on to the production cost of the steel sector, the carbon tax burden in the steel sector is estimated to reach approximately KRW 3.1865 trillion. Even after deducting KRW 1.1599 trillion in export refunds estimated by using the share of exports of steel products, the net carbon tax burden on steel products for domestic demand amounts to KRW 2.0266 trillion, which is analyzed to act as a factor in increasing the price of steel products.

• Journal of Environmental Impact Assessment
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• v.20 no.6
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• pp.937-952
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• 2011

정부는 지구온난화로 인해 기후변화에 대응하고 세계적 경제위기를 극복하기 위해, 저탄소녹색성장기본법(2010년 1월)을 제정하여 저탄소 녹색성장을 추진하고 있다. 저탄소 녹색성장은 신재생에너지, 탄소배출권 거래제도, 5+2 광역권개발정책, 저탄소 녹색도시 등으로 요약할 수 있다. 본 연구의 목적은 저탄소 녹색도시계획 및 이에 대한 전략환경평가의 동향을 고찰하고, 저탄소 녹색도시계획에 대한 전략환경평가의 방향을 제시하는 데 있다. 저탄소 녹색도시 조성 관련 연구를 고찰한 후, 환경부의 사전환경성검토 업무매뉴얼의 도시계획의 환경성제고 방안과 국토해양부의 전략환경평가 업무처리규정, 도시계획수립지침, 저탄소 녹색도시 조성을 위한 도시계획수립지침(2009), 저탄소 녹색도시계획 표준모델(2010), 녹색도시개발계획 등을 포함하면서 개정된 도시개발업무지침(2011)이 도시계획에 제대로 반영되는지를 검토하고, 외국의 기후변화에 대응하는 전략환경평가를 고찰한 결과는 다음과 같다. 첫째, 기후변화 대응 도시계획의 내용은 저감방안과 적응방안 두 가지로 나눌 수 있는 데, 저감방안은 경제적 및 기술적으로 한계가 있으므로, 향후 전략환경평가는 저감방안과 함께 적응방안을 강조할 필요가 있다. 둘째, 기후변화 대응(저감과 적응)을 위해 전략환경평가의 목표와 지표를 설정한다. 셋째, 국토해양부의 상위계획(광역도시계획과 도시기본계획)에 대한 전략환경평가와 환경부의 하위계획(도시관리계획)에 대한 전략환경평가의 긴밀한 연계가 필수적이다. 넷째, 전략환경평가는 도시기본계획 수립 후에 이뤄지는 독립된 과정이라기보다는 도시기본계획 수립과정에서 중요한 부분으로 인식하는 것이 중요하다. 장기적으로는 도시기본계획과 도시환경계획을 연계시키는 것이 바람직하다.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.36 no.2
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• pp.297-305
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• 2016

This study aims to analyze characteristics of environmental load for the construction phase of PSC beam bridge based on Life Cycle Assessment. For detail computation of environmental load, the construction materials and energy consumption are derived from the BOQ, also connecting with environmental load by Korea LCI Database Information Network. The characteristic of environmental impact was analyzed by 25 cases and cut-off ratio was 80% to 94%. The result sorted by construction materials revealed that environmental load were 53.3% for ready-mixed concrete, 9.6% for wire rod, 7.8% for rebar, 6.8% for cement, 5.5% for plywood, and 5.2% for energy. Furthermore, the result of environmental impact revealed that 45.5% for global warming, 30.4% for abiotic resources depletion, 10.5% for human toxicity, and 8.9% for photochemical oxidant creation. In the future, we can make a decision considering environmental load based on LCA at design phase.

• Transactions of the Korean hydrogen and new energy society
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• v.34 no.3
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• pp.235-245
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• 2023

Techno-economic analyses on a 5-MW water electrolysis system for hydrogen production, operated in Jeju Island where the portion of renewable energy in the power grid is the highest in Korea, have been performed. The cost of hydrogen production and the economic feasibility of the hydrogen production system have been mainly analyzed based on the levelized-cost-of-hydrogen model. The effects of carbon emission trading and renewable power purchase method have been considered to reduce the cost of green hydrogen production in the case studies. This economic analysis model is expected to be used to derive a business model for green hydrogen production.

• Journal of Climate Change Research
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• v.4 no.4
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• pp.409-416
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• 2013

Recently, the property damage has been increasing due to climate change in South Korea. While the general public has become more aware of the environmental issues, but the environmental education system has not been able to meet up with the demands of the public. The purpose of this study is to suggest preliminary data which is needed for developing a environmental textbook. A survey was conducted to meet the following requirements. Respondent's level of interest in problems or situations concerning the following eight themes: fundamental science, health and medicine, aerospace engineering, life science, electrical electronics, telecommunication, mineral and energy resources, environment. The data was collected from 139 students in Seoul and Gyeonggi province. The results showed that health and medicine issues interest students the most (49.6%), followed by environment (46.8%). We asked the respondents who were very interested in each question for their reasons, and they answered that environmental issue is related to the improvement of their life quality (53.8%) than their curiosity (38.5%). Students were very interested in the other issues because of just curiosity. Most students (90.6%) said seasonal change was not same each year. 18.0% of respondents replied that they and their friends had experienced climate change. The majority of students (94.2%) thought that they will experience natural disaster blamed on climate change during their life. In other words, climate change is already the day-to-day events of their lives. The majority of their opinions, more then three than ten students(30.9%) said the South Korean government should conduct an energy saving campaign to climate change problems followed by expanding new renewable energy (24.5%), conducting adaptation policies of climate change(22.3 %), introducing of a system as like $CO_2$ emissions trading(20.9%) and so on. There are more Stu- dents (69.1%) who know of new renewable energy than students who don't know it; however, respondents who know the meaning very well were just 18.7% showing that most students dimly know the meaning of new renewable energy.