• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.489-522
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• 2015

According to Law on Allocation and Trading of GHG Allowances of 2013 in Korea as well as the 2014 National Master Plan for Korean Emissions Trading System, the System should be designed to minimize the change in the market positions of the affected firms. In this paper, we investigate how that principle might become ineffective by the ways of distributing allowances and applying different accounting methods using a Cournot duopoly model. Although the way of allocating allowances freely to firms combined with accounting them for having no values would minimize their market positions, it would not the most cost-effective way of GHG reduction since it does not provide financial market with accurate informations.

• Journal of Energy Engineering
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• v.16 no.1 s.49
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• pp.15-21
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• 2007

In order to solve problems of global warming, many policies and measures has been implemented in various countries. In January 2005, the European Union Emission Trading Scheme officially started. In order to take it into action, the EU ETS stated that all members must submit the national allocation plan including the national's total allowances, allowances for installations, reserve for new entrants, etc. In the process of this decision-making, it was also stated that problems related with early action should be solved by each member state at its option. This paper is a study on necessity of compensation for early action and its limitation of its practices. With a comparative study on dealing with early action in the key nations including Germany, the Netherlands and United Kingdom, we can get insights and strategies for effective processes of dealing with early action and the direction for harmonizing data collection and allocation rules.

• The Korean Journal of Air & Space Law and Policy
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• v.26 no.1
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• pp.127-145
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• 2011

European Union unilaterally included the emissions from aviation activities into EU ETS on 19 November 2008 by amending Directive 2003/87/EC. According to the Directive all the emissions(mainly against the CO2) from aviation activities shall be subject to the regulation of EU ETS from 2012. For the period from 1 January 2012 to 31 December 2012, the total quantity of allowances to be allocated to aircraft operators shall be equivalent to 97% of the historical aviation emission s. From 1 January 2013, the allowances will be reduced to 95%. The allocation of allowances which may be applied by each operator with free of charge will be reduced from 85% to 82% from 1 January 2012 to 1 January 2013. Since the Directive will affect every country's airline industry more or less, the nations and international organizations respond variously. The controversial focus is that whether EU has the right to unilaterally include the emissions from international aviation activities into EU ETS. This article firstly analyzes the effect caused by EU ETS to China's airline industry, and then studies the legality of the action of EU subject to current positive international law, and finally draws the conclusion that EU enjoys no such right to unilaterally include the emissions from international aviation activities.

• Environmental and Resource Economics Review
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• v.25 no.3
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• pp.377-401
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• 2016

This study analyzes how much cost the power generation and energy sector in South Korea have to bear due to the introduction of emissions trading scheme during 2016 - 2017. To this end, the data on the seventh basic plan for long-term electricity supply and demand is applied to the electricity market simulation model called M-Core, and then the model forecasts carbon dioxide emissions to compare with the free emission allowances in the first national emissions permit allocation plan. The main results are as follows. Carbon dioxide emissions are estimated to be less in 2016 but more than the free emission allowances in 2017. When the price of the allowances is changed from \10,000/ton to \20,000/ton, the cost of purchasing the allowances is ranged from \70 billion to \140 billion. Under the assumption that CO2 cost is incorporated into the variable cost, a reversal of merit order between coal and LNG generation takes place when the price of the allowances exceeds \80,000/ton.

• Journal of Energy Engineering
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• v.23 no.2
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• pp.158-169
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• 2014

In the context of $CO_2$ mitigation, how early reduction action taken by individual companies previous to the actual regulated period is implemented at the free allocation process, remains one of the major issues. This article considered efficiency factor as a criterion for the early action. Then the emissions allowance allocated was compared and analyzed with and without the consideration of early action. In the cases of manufacturing sectors of Korea for the period 2001~2009, it is shown that emissions in the all industries fell by their efficiency factors. The amounts of emissions allowance allocated to the all industries except petro-chemistry are increased when EA is counted in the allocation process.

• Environmental and Resource Economics Review
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• v.15 no.4
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• pp.591-642
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• 2006

This paper intends to analyze economic impacts of commitment period and initial allocation in emissions trading using computable general equilibrium (CGE) modeling. The fully dynamic CGE model with perfect foresight assumption is employed to illustrate (i) how a model displays economic impact of $CO_2$ regulation upon different commitment periods: one-year budget clearing vs. 5-year commitment period, (ii) how major 8 energy-intensive industries respond to different ways to allocate initial allowances. According to the results of the analysis, it IS found that market players are motivated to bank the permits and tend to sell permits in earlier stage and to buy permits in later stage of commitment period. This implies that banking allows permit trading within a commitment period, which supports the conclusions of Kling and Rubin (1997). Other findings are related to efficiency. That is, emissions trading surpasses command and control, in terms of economic efficiency and longer terms of commitment period converge on lower permit price, In long term, initial allocation based on value-added performs the lowest GDP loss among different initial allocations.

• Environmental and Resource Economics Review
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• v.30 no.1
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• pp.129-167
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• 2021

The emission trading system is an essential policy for reducing greenhouse gas emissions and converting low-carbon society. EU ETS is a good benchmark that is ahead of Korea's emission trading system in terms of operating period and design know-how. Therefore, this study focused on the key design elements of EU ETS phase 4 such as total emission allowances issued (Cap), free allocation method, carbon leakage list, market stability reserve, and innovation supporting system. In addition, we analyzed the impact of key design elements and their changes during EU ETS Phase 1 to 4 on the design and operation of Korea emission trading system in the future. First of all, the expected impact on the design of Korea emission trading system is to increase three demands: preparing benchmark renewal plans, establishing criteria for selecting free allocation industries that reflect domestic industrial structure and characteristics and introducing two-stage evaluations for free allocation industries, and preparing specific plan to support innovation and industries using allowance auction revenues. The next three impacts on the operation of Korea emission trading system are the increased needs for objective and in-depth impact assessment of plan and amendments, provision of system stability and response opportunities by quickly confirming plan and amendments prior to the implementation, and coordination of the emission trading system governance and stakeholder participation encouragement.

• Asian-Australasian Journal of Animal Sciences
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• v.30 no.12
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• pp.1796-1802
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• 2017

Objective: This experiment was conducted to evaluate the optimal space allowance on growth performance, blood profile and pork quality of growing-finishing pigs. Methods: A total of ninety crossbred pigs [$(Yorkshire{\times}Landrace){\times}Duroc$, $30.25{\pm}1.13kg$] were allocated into three treatments (0.96: four pigs/pen, $0.96m^2/pig$; 0.80: five pigs/pen, $0.80m^2/pig$; 0.69: six pigs/pen, $0.69m^2/pig$) in a randomized complete block design. Pigs were housed in balanced sex and had free access to feed in all phases for 14 weeks (growing phase I, growing phase II, finishing phase I, and finishing phase II). Results: There was no statistical difference in growing phase, but a linear decrease was observed on average daily gain (ADG, p<0.01), average daily feed intake (ADFI, p<0.01), and body weight (BW, p<0.01) with decreasing space allowance in late finishing phase. On the other hand, a quadratic effect was observed on gain to feed ratio in early finishing phase (p<0.03). Consequently, overall ADG, ADFI, and final BW linearly declined in response to decreased space allowance (p<0.01). The pH of pork had no significant difference in 1 hour after slaughter, whereas there was a linear decrease in 24 h after slaughter with decreasing space allowance. Floor area allowance did not affect pork colors, but shear force linearly increased as floor space decreased (p<0.01). There was a linear increase in serum cortisol concentration on 14 week (p<0.05) with decreased space allocation. Serum IgG was linearly ameliorated as space allowance increased on 10 week (p<0.05) and 14 week (p<0.01). Conclusion: Data from current study indicated that stress derived from reduced space allowance deteriorates the immune system as well as growth performance of pigs, resulting in poor pork quality. Recommended adequate space allowance in a grow-to-finish production system is more than $0.80m^2/pig$ for maximizing growth performance and production efficiency.

• Journal of Environmental Policy
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• v.8 no.4
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• pp.95-124
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• 2009

This study aims to introduce greenhouse gas emission trading in Korea as a highly cost-effective mechanism for controlling emissions. The Basic Act on Low-Carbon Green Growth will cover methods of emissions allocation, national inventory, and trading systems (i.e. emissions trading platforms, national registry,and clearing and settlement platforms). The Korean emission scheme will be based on the Korean Climate Change Act proposed by the National Assembly and Government with a cap-and-trade scheme. The national allowances will be allocated by the hybrid system. To establish the national inventory, TRADEMARKS (Telemetering System) and emissions factors are effective for greenhouse gas emissions measurement. It will likewise be effective for the national registry to be implemented via a Korean Integrated Registry, the emissions trading platform via the KRX (Korean Exchange), and the clearing and settlement platform via the KSD (Korean Securities Depository). In other words, the KRX will manage product development and marketing for Korean Carbon Financial Instruments (including commodities, futures, and options contracts) listed and admitted to trading on the KRX. All emissions trades will be standardized and cleared by the KSD.

• Korean journal of food and cookery science
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• v.19 no.4
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• pp.477-492
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• 2003

The purposes of the study were to establish HACCP-based standards and guidelines for conducting a plan review to build, or renovate, hospital food service establishments, and ensure the safety of foodservice and reduce the risk of food borne illness. The scope of the study included suggestion for the planning of hospital foodservice facilities: layout, design, equipment and modeling. The results of this study can be summarized as follows: 1) The development of a foodservice facility plan based on the results of a survey, literature reviews and the results of interviews with foodservice managers from 9 general hospitals. This was composed of operational policies in foodservices, layout characteristics, space allocation, selection, design, specification standards for equipment and the construction principles of foodservice facilities. 2) Two foodservice facility models were developed, one for general hospitals with 900 beds (2,000 patients and 2,500 employee meals per day) and the other for general hospitals with 300 beds (600 patients and 650 employees meals per day). 3) The suggested kitchen space requirements for the foodservice facility models were 341.2 ㎡ (W 17,100mm x L 23,700mm) and 998.8㎡ (W 35,600mm x L 32,800mm) for the 300 and 900 beds hospitals, respectively, with both designs being rectangular. The space requirements for the equipment, in relation to the total operational area, in terms of ratios were 1:3.5 and 1:3.8 for the 300 and 900 beds hospitals, respectively. The recommended space allowances per bed for the developed foodservice facility models were 1.15 ㎡ and 1.11 ㎡ for the 300 and 900 beds hospitals, respectively, which were increased by more than 30% compared to those suggested in the precedent study, and considered appropriate for the implementation of the HACCP system. 4) The hospital foodservice facilities plans and models were developed based on the general sanitation standards, guidelines and the HACCP system, and included foodservice facility layout, product flow, physical separation between contaminated and sanitary areas, foodservice facility specifications with a 1/300 scale for a 300 bed, and a 1/400 scale for a 900 beds blueprint. 5) The main features of the developed foodservice facility plans and models were; physical separation between contaminated and sanitary areas to prevent cross contamination, product flow in one direction from the arrival of the raw material to the finished product, and separation of different work areas and the process of receiving & preparation of products, refrigeration & storage, cooking, assembly, cleaning & disinfection, employee areas and janitorial facilities. The proposed models from this study were presented as examples for those wanting to build, or renovate, their facility for the production of foods.