Seoul: The Global Carbon Council (GCC), recognized as the Global South's first internationally accredited carbon market program under ICAO's CORSIA scheme, and the Korea Forest Service (KFS) have signed a Memorandum of Understanding (MoU) to strengthen cooperation on Nature-based Solutions (NbS) and the advancement of high-integrity carbon markets under the Paris Agreement. The agreement was signed by Founding Chairman of GCC, Dr. Yousef Mohamed Alhorr, and Minister of KFS, Dr. Kim In-ho, during an official ceremony in Seoul.
According to Qatar News Agency, the MoU aims to develop a strategic partnership between the two sides in the field of natural carbon management, including the registration of afforestation, land reclamation, and coastal area projects under the internationally recognized Council program. It will facilitate the participation of Korean institutions in global carbon markets and enhance the credibility and reliability of carbon credits generated by forestry projects.
The MoU includes cooperation in developing joint scientific and technical methodologies in afforestation, forest management, and blue carbon, applying digital monitoring and verification (Digital MRV) technologies to prevent violations and ensure integrity. Additionally, it involves organizing workshops, training and capacity-building programs, and participation in international forums such as UN Climate Conferences (COP) and Global Climate Week.
This partnership also aims to enhance transparency and credibility in international carbon markets, support Korea's efforts to preserve national wealth through domestic carbon credit management, expand the presence of the Global Carbon Footprint Council in the Asia-Pacific region, and build new bridges of cooperation between the Middle East and East Asia in sustainable development.
The partnership contributes to advancing the global direction toward high-integrity carbon credits, strengthens trust in voluntary markets, and reinforces South Korea's leading role in afforestation and sustainable forest management.