Korea Forestry Promotion Institute (KOFPI), under the umbrella of the Environment Ministry, held an event to mark the opening of a “forest carbon offset marketplace” at Royal Hotel in Myeong-dong, downtown Seoul, on Sept. 2.
The forest carbon offset system is a process in which companies, forest owners and local governments carry out activities to absorb greenhouse gas emissions on a voluntary basis and the government certifies the amount of carbon stored there.
The carbon credits are used by companies and local governments to put carbon neutrality into action.
The forest carbon offset system has been operating since 2013. As of 2025, over 210,000 tCO2 had been certified as carbon amounts stored. Out of the total carbon credits, 29,125 tCO2 was sold and utilized.
Korea Forestry Promotion Institute held a seminar to mark the opening of a “forest carbon offset marketplace” at Royal Hotel in Myeong-dong, downtown Seoul, on Sept. 2.
The major function of the forest carbon offset marketplace is that forest owners register their carbon projects and corporate and local government buyers purchase carbon absorption amounts of the registered projects on a voluntary basis.
The whole process of registration, selling and purchase, being done by a blockchain technology, involves the whole cycle of absorbing carbon per tCO2.
The step is designed to help forest owners expand selling channels on their carbon projects, secure the quality of carbon absorption amounts through a reliable carbon print management process and ensure administrative efficiency through real-time transaction.
KOFPI President Choi Moo-yeol said, “In an era of climate change, we will make efforts to have forests’ absorbing carbon emissions, one of the natural solutions, in a wide use and we expect the marketplace to serve as a core part of efforts to expand sustainable forest management and realize corporate carbon neutrality.”
Korea Forestry Promotion Institute displayed prize-winning photos of the 3rd Wood Space Design Competition so people can share possible space uses of timber and experience authentic values.
KOFPI President Choi said, “We expect the fair to serve as an opportunity to have timber’s eco-friendliness and practical values known to people, and KOFPI will continue to expand experience-oriented support activities so that people and the industry can get n easy and close access to timbers.”
Korea Forestry Promotion Institute was honored with the top prize among public enterprises in the “Best ESG governance category” at the 2025 Korea ESG Management Grand Prix awards ceremony on Aug. 29.
KOFPI Honored with Top Prize at Korea ESG Management Grand Prix Awards
Korea Forestry Promotion Institute (KOFPI) won the top prize among public enterprises in the “Best ESG governance category” at the 2025 Korea ESG Management Grand Prix awards ceremony.
KOFPI under the umbrella of the Korea Forest Service received the prize at a ceremony on Aug. 29. The awards event was jointly hosted by Korea ESG Committee and ESG Korea News.
KOFPI got the honor in recognition of efforts to strengthen ESG management, such as upgrading integrity and transparency management regimes based on the international standard ISO 37001, ramping up responsible management with a focus on the board of directions and establishment of governance with stakeholders’ participation.
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