Korean allowance unit
  • “Korean allowance unit” refers to a permissible level of greenhouse gas emissions that has been allocated to the companies designated for emissions permits allocation1).
    Fn. 1)
    The “companies designated for emissions permits allocation” indicate the entities designated and announced by the Ministry of Environment pursuant to Paragraph 1 of Article 8 under the Act on the Allocation and Trading of Greenhouse Gas Emission Permits.
  • Korean allowance units are listed by dividing issues to be traded for each compliance year at a time when the commitment period starts.

In the case of 2015 which is the first compliance year of the first commitment period (2015-2017), the allocated emissions permits for 2015, 2016 and 2017 are listed simultaneously.

Korean Credit Unit
  • Korean Credit Unit ” mean the emissions rights that have been converted from the greenhouse gas reductions from an external project pursuant to Article 29 of the Act on the Allocation and Trading of Greenhouse Gas Emission Permits.
  • The emissions permits that have been converted from greenhouse gas reductions from an external project for each specific compliance year are listed as offset emissions permits.
    • Offset emissions permits require an allocated company to apply for conversion and also the approval process of a competent authority and the timing for listing is subject to change.

    In the case of the first commitment period, the offset emissions permits converted in 2015 are classified as the “offset emissions permits for 2015, and those converted in 2016 as the “offset emissions permits for 2016.