Analysis of Social Cost of Carbon Emissions between Korea and China

February 28, 2026Korea Trade Review

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Key Points

The study aims to estimate and analyze the social cost of carbon emissions (SCC) in Korea and China during a key climate crisis period.
Utilized the GHKT model for estimating SCC based on three major parameters: discount rate, carbon cycle coefficient, and damage factor.
Compared the weighted average estimates of SCC for Korea and China from 2000 to 2023.
Estimated SCC in China ranged from 36.18 to 460.91 yuan/tCO₂eq during the study period.
Estimated SCC in Korea ranged from 3,177 to 6,508 won/tCO₂eq for the same timeframe.
Both countries showed a continuous increase in SCC, with a clear difference in the rate of increase.

Analysis estimates social cost of carbon emissions in Korea and China, suggesting policy implications for both countries.

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Kim et al. (2026) studied this question.

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