Pilot project for sea forest carbon trading underway at 20 locations including Wando.

The ‘Sea Forest Carbon Trading Demonstration Project’ is being launched. The Korea Fisheries Resources Agency (President Kim Jong-duk) will utilize the budget secured from the Ministry of Oceans and Fisheries to recruit participants from private companies, local governments, and fishermen by February of this year, and then carry out the demonstration project in 20 locations including Wando. In this demonstration project, the plan is to make the detailed processes of the carbon trading business being promoted by the Ministry of Oceans and Fisheries more robust by checking the operability of the entire project cycle process, verifying and monitoring carbon absorption quantities, and establishing a revenue distribution model for participating companies and fishing villages. To this end, President Kim Jong-duk of the agency visited the Wando project site, which was being promoted with the agency and local government’s own budget from the previous year, for two days on the 8th and 9th ...