South Korean Environment Minister announced on June 30 that the country's combined emissions of greenhouse gas should fall to 535.87 million tons of carbon dioxide equivalents (CO2-e) by 2030, which was 37% cut from an estimated amount. The 25.7 percent cut would be achieved by reducing emissions among local companies and people, with the 11.3 percent cut set to be met by purchasing international carbon credits. The Prime Minister of South Korea indicated that the emissions reduction target was set at a higher level than earlier proposed, which would enhance its international status, promote industrial upgrading and nurture new energy industry.