A Quantitative Assessment of South Korea's Options for the INDC in 2030

- Using the Capri (Carbon Pricing) model, we quantified and analyzed various scenarios to meet South Korea's carbon mitigation targets. - The results clearly show that linking South Korea's carbon market to international carbon markets can significantly reduce the costs of mitigation (see Section 2).- The actual market dynamics will depend on the country that South Korea links its market with. For example South Korea would be a net seller of carbon credits to the EU, but a net buyer of carbon credits from China (see Section 3).- The benefits of linking the SK ETS to carbon markets in similar countries, such as Mexico, would be less significant. The reason is that similar circumstances mean that the opportunities for trade would be smaller, as both countries would likely find it cheaper to achieve their mitigation domestically