IEA executive director Maria van der Hoeven said, "Korea has taken great steps to enhance energy security and to foster the development of new and renewable energy alongside the expansion of its energy-related R&D programme, which is one of the largest in the IEA."
The report, ‘Energy Policy of IEA Countries: Korea 2012’, recommends that the nation elaborate on the details of the new emissions trading scheme and provide greater clarity on how it will work in practice.
Korea aims to reduce its greenhouse gas (GHG) emissions by 30% compared to its business as usual (BAU) case by 2020. The country has announced this year the details of an emissions-trading scheme, which would be implemented in 2015.
The IEA report also recommends Korea to take steps to ensure that the design of the scheme complements other policies including its renewable energy target, and nuclear energy expansion.
