Enforcement Decree of the Act on Enhancing Overseas Forest Carbon Sequestration (Presidential Decree No. 34188).

This Decree is enacted in accordance with the the Act on Support for Reducing Greenhouse Gas Emissions and Enhancing Carbon Sequestration through Forests in Developing Countries.
The Decree details the responsibilities of various stakeholders, including the Korea Forest Service and project operators. Key provisions include the requirement for project operators to submit a business plan and other necessary documents for approval to the Forest Service. These documents may include contracts, organizational regulations, and proof of financial capability. The Decree also specifies the establishment and operation of a support center dedicated to enhancing carbon accumulation in developing forests, which must submit an annual operational plan to the Korea Forest Service. Additionally, the Decree outlines the criteria for support applications, which must include a detailed project plan, confirmation of project registration, and evidence of past project performance, among other requirements. The Forest Service is tasked with verifying the information provided through administrative information sharing, ensuring transparency and accountability in the support process.