A bill was proposed to establish a legal framework for imposing a carbon tax as part of Korea’s efforts to achieve carbon neutrality by 2050, thereby tackling climate crisis.With the new carbon tax scheme, Korea seeks to :
- reduce greenhouse gas emissions, which is the most significant contributor to climate crisis
- secure financial resources necessary for developing new and renewable energy technologies and preparing climate change countermeasures
- achieve carbon neutrality
With the Act, the carbon tax of 50,000 won for 1 ton of CO2 equivalent (tCO2-eq) will be levied on goods emitting greenhouse gas.
