Emissions Trading Act (Act No. 20229).

This Act is enacted pursuant to Article 25 of the Framework Act on Carbon Neutrality and Green Growth for Climate Crisis Response, with the goal of effectively achieving the nation's greenhouse gas reduction targets through market mechanisms.
The Act introduces a system for trading greenhouse gas emissions permits. The government is required to establish a basic plan for the emissions trading system every five years, covering a ten-year period. This plan outlines mid- to long-term policy objectives and strategic directions for the system. To oversee and coordinate key aspects of emissions trading, the Emissions Allocation Committee shall be established within the Ministry of Strategy and Finance. The Committee will deliberate on matters such as allocation plans and market stabilization measures. Additionally, the Act provides for the designation of target entities for allocation, registration and management of emission rights trading accounts, reporting requirements for emissions trading, and the establishment and operation of an exchange.