South Korea
Digital Asset
Government Reviews Issuing Carbon Credits as 'Digital Assets'... Paving the Way for 24-Hour and Retail Trading
- The Ministry of Economy and Finance and related ministries discussed the 'Global Verified Carbon Market (GVCM) Detailed Implementation Plan' at the 274th Ministerial Meeting on External Economic Affairs held on October 12.
- The plan envisions first establishing a carbon credit trading market through the Korea Exchange (KRX), then later issuing carbon credits as digital assets in parallel, contingent on the state of digital-asset-related legislation.
- The digital-asset format is intended to enable 24-hour trading and open participation to individual and foreign investors, with the GVCM initiative tied to bodies including the UN Framework Convention on Climate Change (UNFCCC) and the Global Green Growth Institute (GGGI).