The National Assembly Budget Office held a press conference on recently published report, Tax Policy for Climate Change Response: Status and Challenges in Korea, on Monday, September 29, at the National Assembly Press Room.

The press conference was conducted through a briefing by NABO Chief Dongha Chi, which introduced the role of tax policy in responding to the climate crisis and future challenges, domestic carbon tax legislation and research trends, and key issues.

In the briefing, Chief Chi stated, "Korea's tax policy does not provide sufficient signals to induce carbon reduction as a response to climate crisis. Therefore, it will be necessary to establish a tax rate system that considers carbon emissions, strengthen tax support to promote low-carbon investment and technological innovation, and enhance complementary links between the tax system and greenhouse gas reduction-related systems such as the emissions trading scheme." He added, "We expect this research to serve as meaningful reference material for the National Assembly's climate crisis response activities, including the Special Committee on Climate Crisis."