Abstract
The Korean government submitted the Intended Nationally Determined Contributions (INDC) to UNFCCC which aims to reduce 37% greenhouse gas emission for the opportunity of developing new energy industry and industry innovation by 2030 compared with Business-As-Usual scenario taking into account its international responsibilities and hosting headquarters of Green Climate Fund (GCF) secretariat. The 37% reduction is composed of 25.7% in the domestic markets and 11.3% in the international carbon markets. To achieve the reduction target in the international carbon market mechanisms, it must use the linkage of international carbon markets and develop new renewable energy technology for CDM and ODA. Finally, it must improve carbon capture storage (CCS) technology and establish domestic CCS institutional systems as soon as possible. And, it must activate CCS information exchange for the international cooperation on UNFCCC movement.
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