South Korea Plans Fund For Global Carbon Offset Projects
- Fund to support overseas mitigation activities to earn credits
- Korea to curb almost 38 million tons of emissions with offsets
South Korea is planning its first fund that will seek to generate internationally exchangeable carbon credits that can be used to meet its climate goals.
The Asian nation will seek to raise at least 1 billion won ($727,000) and potentially about 10 billion won for the fund, which will be set up with local brokerage firms before the end of this year, according to the Ministry of Trade, Industry and Energy.