This study aims to review investments of Regional Greenhouse Gas Initiative(RGGI) auctioning revenues and estimate impacts of Korean Emissions Trading System(K-ETS) auctioning revenues on carbon emissions reduction and economic performance. K-ETS will be expected to grow the auctioning revenues due to an increase in the emissions permit auction share. Specifically, the K-ETS auction share is planned to increase from 10% in the 3rd phase to 15% in the 4th phase, and the auction revenues in the 3rd phase and in the 4th phase are estimated to be $ 2,389 million and $ 3,583 million, respectively. Since the Republic of Korea does not earmark auctioning revenues, it is difficult to estimate what the proceeds are being used and how much the environmental and economic impacts of using the proceeds are. Therefore, it is indirectly estimated the impacts of reducing carbon emissions and saving energy costs for consumers by using the case of RGGI. The findings are that the lifeti me benefits of K-ETS auctioning revenues(based on scenario 3) are expected to avoid the release of 46 million metric tons of CO2 and to save $ 18.5 billion on consumers' energy bills in the 3rd phase(2021∼2025).

[Key Words] RGGI(Regional Greenhouse Gas Initiative), Auctioning Revenues, K-ETS(Korean Emissions Trading System), Carbon Emissions Reduction, Economic Performance