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Title Page
Contents
ABSTRACT 7
I. INTRODUCTION 8
A. Background 8
B. Purpose and Scope 13
II. CLIMATE CHANGE POLICIES UNDER MEAs AND IIAs 15
A. Fragmentation of International Law 15
1. Climate Change Policies and MEAs 16
2. Climate Change Policies and IIAs 17
3. Conflicts between MEAs and IIAs 18
B. Applicable MEAs and IIAs 21
1. Applicable MEAs 21
2. Applicable IIAs 23
C. Implications from MEAs and IIAs 25
III. KOREA'S MAJOR CLIMATE CHANGE POLICIES 27
A. Korea's Low Carbon, Green Growth Initiative 27
B. The Korean Emission Trading Scheme (KETS) 28
1. Overview 28
2. KETS Act: A Summary 29
3. The First Commitment Period and Administrative Lawsuits 30
4. Emission Permits as Investments 31
5. Implications for Potential Investor-State Disputes 33
C. New and Renewable Energy Policies 34
1. Overview 35
2. FITs and Transition to RPS 36
3. Local Governments and Renewable Energy Investments 37
4. Implications for Potential Investor-State Disputes 39
D. A Low-Carbon Vehicle Incentive Scheme 40
1. Overview 40
2. Clean Air Conservation Act: A Summary 41
3. Delayed Implementation and Legal Issues under the KORUS FTA 42
4. Implications for Potential Investor-State Disputes 44
IV. POTENTIAL INVESTOR-STATE DISPUTES BASED ON THE KOREAN IIAs 45
A. Sources of the Korean IIAs 45
B. Expropriation 46
1. Introduction 46
2. IIA Provisions on Expropriation 47
3. Application to Korea's Climate Change Policies 52
4. A Selection of Cases on Indirect Expropriation 54
5. Lessons Learned 57
C. National and MFN Treatment 58
1. Introduction 58
2. IIA Provisions on National and MFN Treatment 59
3. Application to Korea's Climate Change Policies 62
4. A Selection of Cases on National and MFN Treatment 65
5. Lessons Learned 68
D. Fair and Equitable Treatment 69
1. Introduction 69
2. IIA Provisions on Fair and Equitable Treatment 70
3. Application to Korea's Climate Change Policies 75
4. A Selection of Cases on Fair and Equitable Treatment 77
5. Lessons Learned 81
V. ARGUMENTS IN FAVOR OF CLIMATE CHANGE POLICIES 83
A. Preamble 83
B. Determination of Like Circumstances 84
C. MEA Obligations of Host States 86
D. Security Exceptions and a State of Necessity 90
E. Environmental Exceptions 94
VI. POLICY IMPLICATIONS FOR THE FUTURE IIAs 96
A. Climate Change-Savvy Preambles 96
B. Climate Change-Savvy Standards of Treatment 98
C. General Exceptions 100
VII. CONCLUSION 104
REFERENCES 107
국문초록 125
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