Governance & Policy
South Korea Framework Act on Carbon Neutrality and Green Growth
Definition
South Korea's Framework Act on Carbon Neutrality and Green Growth, in force since 2022, makes the country one of the first in Asia to legislate a 2050 carbon neutrality target. It requires national and sectoral reduction pathways including a 2030 target, establishes governance bodies and climate response funds, and provides the framework under which the Korean Emissions Trading System operates.
References
Legal text and targets
Official consolidated statutes
Overview
What it means
Korea's industrial decarbonisation — steel, shipbuilding, semiconductors — now has a statutory destination and planning machinery.
How it is used
Ministries produce sector roadmaps; covered entities manage K-ETS allowances; corporates align with national carbon-neutral scenarios.
Why it matters
It anchors climate law in a manufacturing-heavy economy whose K-ETS was Asia's first nationwide carbon market.