South Korea's large business lobby groups urged the government Sunday to reconsider plans to set quotas for greenhouse gases that a company can release into the atmosphere, claiming such a move will undermine corporate competitiveness.
In a joint statement released by the Federation of Korean Industries (FKI), businessmen said the emissions trading system, announced by the environment ministry last week, puts too much burden on companies and could lead to a maximum 28.4 trillion won (US$27.8 billion) in extra outlays for them in three years.