The Korean experience with market-based environmental policy instruments

This paper focuses on the means of environmental policy and considers, in particular, the Korean. experience with - the relatively new breed of economic-incentive or market-based policy instruments. Even though these policy instruments can be defined broadly, I consider them with emphasis on charge system, which is the main market-based environmental instrument in Korea. Within charge system, I consider effluent charge, deoposit-refund system, environmental improvement charge, and water, quality improvement charge;, This study gives the impression that economic incentive instruments have not replaced, or have not come close to replacing, the conventional, command-and-control approach to environmental: protection in Korea. But, despite this situation, market-based instruments have moved center stage, and they are considered seriously for each environmental problem that is tackled by Central and Local Governments in Korea. Market-based instruments. will enjoy increasing acceptance in Korean environmental policy process in the years ahead.