On 28 June 2018, the Korean Government released a draft 2030 roadmap for achieving its Nationally Determined Contribution (NDC) of a 37% greenhouse gas emissions (GHG) reduction below 2030 business-as-usual level (850.8 MtCO2e) by 2030.
The draft roadmap indicates that Korea maintains its target of reducing emissions by 536 million tonnes of CO2e by 2030. However, the share of domestic reductions has increased from 25.7% to 32.5%. The Korean government aims to achieve this through deeper cuts across sectors.
Increased domestic reduction measures would result in the Republic of Korea requiring fewer international reduction credits to achieve their NDC target. Up to 4.5% of the 37% is now expected to be covered by international offset credits. This figure may be further reduced if their target can be reached by the use of forest carbon sinks. However, this is pending the finalization of international rules under UNFCCC negotiations, as well as other international instruments.
The Korean Government is planning to hold the additional open forums on 3 and 7 July to hear public opinions on the draft roadmap and finalize it by July 2018.