Republic of Korea launched its national emissions trading system (K-ETS) in 2015 and is currently in Phase 3 of implementation. As one of the most prominent examples of a successfully established national ETS, the K-ETS covers 73.5% of the country’s total greenhouse gas (GHG) emissions during Phase 3, playing a pivotal role in achieving national mitigation goals. This study reviews the institutional development of the K-ETS over the past decade and assesses the performance and limitations of its key components—allocation, trading, and compliance—based on operational data. It also provides a quantitative assessment of emissions reporting and verification procedures, the use of Korean Credit Unit (KCU), and the application of flexibility mechanisms such as banking and borrowing. The analysis highlights several institutional improvements, including the expansion of auctioned allocations, adoption of the benchmarking (BM) method, and introduction of market facilitators. These reforms have contributed to a significant increase in market activity, driven by a broader range of participants, greater use of flexibility mechanisms, and influence of policy events. Based on the findings, the paper proposes policy directions to enhance market liquidity, institutional credibility, and mitigation effectiveness. The study offers valuable insights for designing the forthcoming Phase 4 of the K-ETS and supporting Republic of Korea’s carbon neutrality target for 2050.

Rising tensions between the US and China are changing how companies design global supply chains in strategic industries such as semiconductors and rare earths. New research shows firms are no longer just reacting to trade rules – they are proactively redesigning supply chains to reduce political risk and secure access to critical technologies.

MDPI, the open access publisher, has appointed Sangwoo Lee as head of its South Korea office. Mr. Lee joins from Public Relations agency Prain Global, where he served for more than three years as chief director of strategic communications consulting institute. In his new role, Mr. Lee will lead MDPI’s operations in South Korea and oversee marketing, communications, and external affairs. The appointment coincides with a major milestone for MDPI Korea: the launch of the Journal of Innovation (JOI, ISSN: 3042-8629), MDPI’s 500th journal. Prof. Dr. Junic Kim of Konkuk University’s School of Business has been appointed founding Editor-in-Chief. He is the first South Korean scholar to serve as Editor-in-Chief of an MDPI journal. 

The systematic under-valuation of nature is creating growing risks for the global financial system, raising the prospect of a “Nature’s Minsky Moment” - a sudden repricing of assets triggered by ecosystem collapse. A new peer-reviewed study shows how recent advances in NatureFinTech now make it possible to measure ecosystem integrity at scale, enabling nature to be financed as critical infrastructure and laying the groundwork for a new asset class called Nature Equity.

By analysing data gathered by the Eustat Innovation Survey, the researchers Josu Santos-Larrazabal and Jorge Gutiérrez-Goiria of the EHU-University of the Basque Country concluded that taxes, subsidies and public procurement are the most effective tools for promoting eco-innovation. Cooperatives can play a significant role in developing eco-innovations, such as reducing CO₂ emissions, which are not solely promoted by governments.