"Rediscovering Seaweed"... Wando County Selected for the Most Sea Forest Carbon Trading Pilot Sites Nationwide

Wando County in South Jeolla Province, known as the "No. 1 Fisheries Region in Korea," has achieved the distinction of being selected for the highest number of locations in the country for the "Sea Forest Carbon Trading Pilot Project," a greenhouse gas reduction initiative utilizing the marine ecosystem. This accomplishment solidifies Wando's status as a leading hub for blue carbon initiatives.

According to Wando County on April 16, the pilot project, organized by the Korea Fisheries Resources Agency and supported by the Ministry of Oceans and Fisheries, is a marine economic initiative that precisely measures the amount of carbon absorbed through the creation of sea forests and seaweed aquaculture, converts it into "carbon credits" (virtual currency), and verifies new revenue models.

Six locations were selected for Wando County's 'Sea Forest Carbon Trading Pilot Project,' a greenhouse gas reduction initiative utilizing the marine ecosystem. Provided by Wando County

원본보기 아이콘

The county was selected for six of the 20 sites nationwide, the highest number among all regions. Including Moseori in Cheongsan-myeon, where the project is already underway, a total of seven sites in Wando will be at the forefront of launching the carbon trading pilot project.

The selected sites are as follows: for the "Sea Forest Creation" category, Sangjeong-ri in Gogeum-myeon, Mira-ri in Soan-myeon, and Geumgok-ri in Saengil-myeon; for the "Fishermen Blue Credit" category, Nae-ri in Nowha-eup, Wolbu-ri in Sinji-myeon, and Dongjin-ri in Soan-myeon.

The fisheries cooperatives in these villages will directly manage and monitor sea forests, such as eelgrass beds, and one-hectare seaweed aquaculture facilities, with full administrative and financial support from the Korea Fisheries Resources Agency.

Wando County intends to leverage this achievement not only for environmental conservation but also as a catalyst for revitalizing the local fishing economy and ensuring a basic income for residents. By converting measured carbon absorption into credits and trading them on the market, the county plans to establish a so-called "marine pension" system that returns profits to the local community.

Looking ahead, the county aims to expand this initiative into a "Wando-style basic income model," allowing all county residents to share the benefits through institutionalization and market development.

Given that the blue carbon initiative is still in its early stages in Korea, the county has launched a research project to rigorously compare and analyze the profitability of conventional seaweed aquaculture with blue carbon-based revenues. Securing "community acceptance," a key to the project's success, is the top priority. The county also plans to maintain existing licenses while gradually expanding idle aquaculture sites or marine areas for dedicated use.

In addition, in line with the Intergovernmental Panel on Climate Change (IPCC)'s discussions on certifying seaweed-based blue carbon, Wando is continuously petitioning government ministries to ensure that existing seaweed farms in the county are officially recognized as carbon sinks.

A county official stated, "Our blue carbon policy is not about replacing existing fisheries, but about expanding them with a new, long-term strategy," adding, "After establishing the effectiveness of the project, we plan to gradually expand its scope."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.