[THE INVESTOR] The government will update the country’s emissions trading system to allocate more permits to industries that claim shortage, Vice Minister of Trade, Industry and Energy Woo Tae-hee said on July 18.

“(The Energy Ministry) will work with the Ministry of Strategy and Finance, and related ministries to improve the system,” Woo said. 


“In the mid- to long-term, a support system will be established to encourage the industry to reduce emissions, and improve the system so that (corporations) will expand emission-cutting efforts.”

Since emissions trading was introduced in January 2015, a number of sectors, including semiconductor and petrochemicals industries, have criticized the system saying that they were given too little credit.

The critics have also voiced views that emission-cutting measures taken before emission trading was introduced must be recognized.

By Choi He-suk (cheesuk@heraldcorp.com)