• Journal of Climate Change Research
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• v.9 no.4
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• pp.325-342
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• 2018

The Korea Emissions Trading Scheme ( K-ETS), which manages roughly 70% of the greenhouse gas emissions in South Korea, was initiated in 2015, after implementation of its 1st basic plan and the 1st allocation plan (2014) for the 1st phase (2015-2017). During the three and a half years since the launch of K-ETS, there have been critical policy change such as adjustment of the institutions involved, development and revision of the 2030 national GHG reduction roadmap, and change in the allocation plans. Moreover, lack of liquidity and fluctuation of carbon prices in the K-ETS market during this period has forced the Korean government to adjust the flexibility mechanism and auction permits of the market stability reserve. To evaluate the policy change in the K-ETS regarding conformance to its objectives, this study defines three objectives (Environmental Effectiveness, Cost Effectiveness and Economic Efficiency) and ten indicators. Evaluation of Environmental Effectiveness of K-ETS suggests that the national GHG reduction roadmap, coverage of GHG emitters and credibility of MRV positively affect GHG mitigation. However, there was a negative policy change implemented in 2017 that weakened the emission cap during the 1st phase. In terms of the Cost Effectiveness, the K-ETS policies related to market management and flexibility mechanism (e.g. banking, borrowing and offsets) were improved to deal with the liquidity shortage and permit price increase, which were caused by policy uncertainty and conservative behavior of firms during 2016-2018. Regarding Economic Efficiency, K-ETS expands benchmark?based allocation and began auction-based allocation; nevertheless, free allocation is being applied to sectors with high carbon leakage risk during the 2nd phase (2018-2020). As a result, it is worth evaluating the K-ETS policies that have been developed with respect to the three main objectives of ETS, considering the trial?and?error approach that has been followed since 2015. This study suggests that K-ETS policy should be modified to strengthen the emission cap, stabilize the market, expand auction-based allocation and build K-ETS specified funds during the 3rd phase (2021-2025).

• Clean Technology
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• v.26 no.4
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• pp.239-250
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• 2020

Biomass is an abundant renewable energy resource that can replace fossil fuels for the reduction of greenhouse gas (GHG). Indonesia has a large number of cheap biomass feedstocks, such as reforestation (waste wood) and palm residues (empty fruit bunch or EFB). In general, raw biomass contains more than 20% moisture and lacks calorific value, energy density, grindability, and combustion efficiency. Those properties are not acceptable fuel attributes as the conditions currently stand. Recently, torrefaction facilities, especially in European countries, have been built to upgrade raw biomass to solid fuel with high quality. In Korea, there is no significant market for torrefied solid fuel (co-firing) made of biomass residues, and only the wood pellet market presently thrives (~ 2 million ton yr-1). However, increasing demand for an upgraded solid fuel exists. In Indonesia, torrefied woody residues as co-firing fuel are economically feasible under the governmental promotion of renewable energy such as in feed-in-tariff (FIT). EFB, one of the chief palm residues, could replace coal in cement kiln when the emission trading system (ETS) and clean development mechanism (CDM) system are implemented. However, technical issues such as slagging (alkali metal) and corrosion (chlorine) should be addressed to utilize torrefied EFB at a pulverized coal boiler.

• Environmental and Resource Economics Review
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• v.13 no.4
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• pp.621-655
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• 2004

Emission Trading (ET) among Annex I countries as expounded in Kyoto mechanism can be an effective mean to control Greenhouse Gases(GHGs), particularly $CO_2$ emissions from fossil fuels. For the international ET to be an effective tool to reduce the global emissions, however, it presupposes that there are no carbon leakage, i.e. Annex I emitters will purchase emission permits if emitting above caps, rather than importing emission-intensive goods from non-Annex I countries thus inducing the foreigners to emit instead. The extent to which a country leaks carbon through trade can be revealed by its bilateral balance of current accounts and related Balance of Emissions Embodied in Trade (BEET) supplemented by Emission Terms of Trade (ETT). Earlier studies on BEET and ETT relied on few selected countries in a partial equilibrium context, Korea being treated as insignificant though she is not a minor emitter. This paper is an attempt to examine BEET in the global CGE framework and to compare its structural difference across countries, with a special emphasis on South Korea.

• Journal of Environmental Science International
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• v.17 no.4
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• pp.423-437
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• 2008

Until comparatively lately, the annual time series of the $SO_2$ concentration had been shown in a decreasing trend in Ulsan as well as other Korean cities. However, the high concentration of $SO_2$ was frequently found in the specific countermeasure region including the national industrial complex such as Mipo and Onsan in the Ulsan city for the period of $2001{\sim}2004$. There are many conditions that can influence the high concentration of $SO_2$ at monitoring sites in Ulsan, such as: First, annual usage of the fuel including sulfur increased in comparison with the year before in spite of the fuel conversion policy which wants to use low sulfur oil less than 3% and LNG. Second, point source, such as the power plants and the petroleum and chemistry stacks, was the biggest contributor in $SO_2$ emission, as a analyzed result of both the air quality modeling and the stack tole-monitoring system (TMS) data. And third, the air pollutants that occurred in processes of homing and manufacturing of the fuel including sulfur were transported slow into a special monitoring site by accumulating along the frontal area of see-breeze. It was concluded that Ulsan's current environmental policy together with control methods should be changed into the regulation on total amount of emission, including a market-based emission trading with calculating of atmospheric environmental critical loads, for the $SO_2$ reduction like the specific countermeasure for the $O_3$ and PM10 reduction in the Seoul metropolitan area. And this change should be started in the big point sources of $1{\sim}3$ species because they are big contributors of Ulsan's $SO_2$ pollution. Especially it is necessary to revitalize of the self-regulation environmental management. Other control methods for sustaining the $SO_2$ reduction are as follows: maintenance of the fuel conversion policy, reinforcement of the regional stationary source emission standard, and enlargement of the stack TMS.

• Journal of The Korean Society of Grassland and Forage Science
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• v.34 no.4
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• pp.283-287
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• 2014

This experiment was conducted to determine methane production and emission factors for a range of roughage diets fed to Hanwoo cows at a level of maintenance energy requirement. Seven cows were fed mixed hay only, 12 cows were fed mixed hay containing 30~50% rice straw and 6 cows were fed a mixed hay diet supplemented with 1.0 kg of wheat bran. Each cow was placed in a metabolic crate for 10 consecutive days, including last 7 days for sampling of feces and urine. At the end of the sampling period, the cows were transferred to an open-circuit respiration chamber for 24 consecutive hours. Methane conversion rate (5.5~6.2%, mean value = 5.8%) and emission factor (33.6~38.6 kg/head/year, mean value = 35.2) were not significantly affected by the diets although the mixed hay only diet resulted in 11 and 15% higher respective rates than the other two. However, in light of the many assumptions that forage with good quality might reduce methane production, additional experiments should be required for participation in the greenhouse gas emission trading system.

• Journal of Korean Society of Environmental Engineers
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• v.35 no.12
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• pp.867-876
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• 2013

To promote the carbon emission trading scheme and reduce greenhouse gas (GHG) emission as following 'Korean GHG & Energy Target Management System', GHG emissions should be accurately determined in each industrial sector. For the estimation method of GHG emission from waste landfill, there are several error parameters, therefore we reviewed the estimation method and proposed a revised method. Methane generation from landfill must be calculated by the selected method based on methane recovery rate, 0.75. However, this methodology is not considered about uncertainty factor. So it is desirable that $CH_4$ generation is estimated using first order decay model and methane recovery should use field monitoring data. If not, $CH_4$ recovery could be applied from other study results; 0.60 of operational landfill with gas vent and flaring system, 0.65 of operational site with landfill gas recovery system, 0.90 of closed landfill with final cover. Other parameters such as degradable organic carbon (DOC) and fraction of DOC decompose ($DOC_f$) need to derive the default value from studies to reflect a Korean waste status. Proper application of MCF that is selected by operation and management of landfill requires more precise criteria.

• Environmental and Resource Economics Review
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• v.29 no.2
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• pp.219-246
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• 2020

From the Phase II (2018~2020) of K-ETS, the offset credit from 'CDM projects that domestic companies and others have carried out in foreign countries' can be used in the K-ETS. As a result, stakeholders in the K-ETS market are actively developing overseas CDM projects, such as the 'high-efficiency cook stove project'. which can secure a large amount of credits while marginal cost is relatively low. This paper develops the investment decision-making model of offset project for the 'high-efficiency cook stove project' using the real option approach. Under the uncertainty of the emission allowance price, the optimal investment threshold (p^⁎) is derived and sensitivity analysis is conducted. As a result, in the standard scenario (PoA-S), the optimal investment threshold is 29,054won/ton, which is lower than the stock price (p^⁎_spot). However, allocation entities are not only economics in the CDM project, but also CDM risk factors such as non-renewable biomass ratio, cook stove replacement ratio, equity ratio with host country, investment period and submission limitation of emission allowance. In addition, offset project developers will be able to derive the optimal investment threshold for each business stage and use it for economic feasibility checks.

• Korean Journal of Construction Engineering and Management
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• v.18 no.1
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• pp.74-82
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• 2017

It is known that energy usage from Korean Universities was growing rapidly in the early 2000s. But since 2011, the change was caused by GHG emissions regulation enforced by the government. The purpose of this research was to find the characteristics and trends of greenhouse gas emissions from major universities in Korea according to the each university's data and information. The result shows that GHG emissions from University have increased steadily prior to enforcement by 4-5% annually, but the rate of increase marked 0.5~1% in 2011~2013 is the season of emission regulation and the total amount of emissions decreased 3%~5% in 2014~2015 while preparing an emissions trading scheme. Therefore we can say that the enforcement of GHG reduction such as energy target management system makes a visible effect at least in the University sector that level of GHG emissions is from $75kg/m^2$ to $58Kg/m^2$ for seven years. Another result says that the size of research fund is the main factor that affects the amount of GHG emissions before 2011, but the size of building area has been a new factor influencing the GHG emission since 2013. Thus we suggest that the criteria for evaluating the level of GHG emission from University is suitable if it is based on the building area intensity.

• Journal of Korea Port Economic Association
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• v.32 no.4
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• pp.15-28
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• 2016

Port of Busan is Korea's largest trading port processing over 18,000 TEU a year. This rapid growth causes air pollution problems in Busan. Ship emissions are significant air pollution sources and port area is relatively close to the business district, therefore it may have serious effects to the health of local people and environment. In this study, ship emissions are estimated, especially on hotelling large vessels. As a result, Port of Busan has 50,686, 48,842 ship calls and 2,343,037 and 2,297,118 tons of ship emissions in 2011 and 2012 respectively. Also, the environmental cost in Port of Busan is approximately 1.2 trillion won per year. This study emphasizes the necessity of ship emissions regulation, hence, it is expected to make a significant contribution in setting up ship emission management system.

• Journal of Climate Change Research
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• v.7 no.3
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• pp.283-288
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• 2016

In this study, applicability of GHG ETS Offset Program in Korea for a refrigerant sector was analyzed by reviewing foreign management policy and project status in progress related to refrigerants in the disposal stage. In order to derive the implication of the domestic Offset Program, it was looked into approved offset projects and certified offset credits current state in Korea. Offset Program has approved 22 methodologies up to the present, so it is necessary to enhance the accessibility to GHG reduction in various industrial sector including the refrigerant sector by developing appropriate methodologies. In this study firstly, it was investigated that management regulation of countries are managing the refrigerants in the disposal stage such as United States, Japan, Australia. Secondly, of CDM methodologies there were two methodologies associated with the refrigerant reduction(treatment), which were decomposition HFC-23 and destruction of HFC-134a. Also there were a non-registered methodology about destruction of HFC-134a of end of life vehicles. Lastly, in California according to Compliance Offset Program, there was Compliance Offset Protocol in ODS Projects that provided eligible conditions. Based on the review, it was examined the possible conditions for domestic offset project for refrigerant sector