South Korea May Link Energy Tax to Greenhouse Gas Emissions

South Korea may link an energy taxation system to emissions as part of efforts to reduce greenhouse gases, the finance ministry said in an e-mailed statement.

The government is preparing a long-term plan on energy and climate change and will announce it at the end of this month, according to the statement.

Under the plan, the government may open an electricity wholesale market to attract private companies to the nation’s smart grid network project. Additionally, South Korea, which imports all of its crude oil needs, is considering setting up an international exchange of oil products that combines online spot and futures markets, the ministry said.

To contact the reporter on this story: Sangim Han in Seoul at sihan@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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