Entities covered by the ETS (companies with annual emissions over 125,000 tCO2e and individual installations with annual emissions over 25,000 tCO2e) had to submit their allocation application by 14 October. The Allocation Decision Review Committee will make a final decision on allocation to individual entities in November. According to the plan, banking is permitted within one year of the subsequent commitment period, while borrowing is permitted up to 10 % of the budget for next year.
In order to strengthen the administrative procedures for emissions trading, the Korea Exchange and the Ministry of Environment have jointly organized an online simulated cap-and-trade market, which will be open from 29 September–22 October and from 27 October–24 December. It is designed to help market participants test the entire trading process, such as the submission and approval of allocation plans, certificate delivery and MRV (Ministry of Environment – Korean).
