South Korea's Ministry of Economy and Finance calls for deeper GGGI and GCF cooperation including voluntary carbon market use

South Korea's Ministry of Economy and Finance published remarks by Second Vice Minister Huh Jang from the first joint conference of the Global Green Growth Institute and the Green Climate Fund in Seoul, setting out a trilateral cooperation model between Korea, GGGI and GCF. In his speech, Huh said Korea's climate technology and development experience, GGGI's project development capabilities and GCF financing could be combined to create a new growth model in which climate action also generates growth drivers. A central example was the Global Voluntary Carbon Market, which Korea is pursuing with the United Nations Framework Convention on Climate Change and GGGI. Huh said converting GCF mitigation outcomes into carbon credits under that market could create new revenue, supporting both emissions reductions and development finance. The ministry also linked the approach to the government's Korea Green Transformation agenda and said it is expanding cooperation with Korea-based international organizations including GCF and GGGI. The ministry said it will continue to explore ways to strengthen cooperation with GCF and GGGI.