recent analysis of carbon taxation proves that reinvestment of the revenue into industries such as renewable energy enables recovery of a part of gdp lost to ghg reductions the korean government goal is to increase the share of new and renewable energy to in in and in to do so a feedin tariff fit system and renewable portfolio system rps have been implemented the cost of solar photovoltaic electricity is as high as krw per kilowatt and krw for wind whose baseline generation costs are much less subsidy based on fit amounted to usd million for gigawatt hours of electricity generation in units in