South Korea’s Ministry of Climate, Energy and Environment (MCEE) on Sunday assumed control of the Climate Response Fund from the Ministry of Economy and Finance (MOEF), completing a transfer of authority that took effect last Friday. The move follows a 2025 government reorganization that reassigned key climate-related budget and fund-management functions previously overseen by MOEF, placing both climate policy and its financing under the same ministry.

For the 2026 fiscal year, the MCEE will manage a record $2 billion (2.9 trillion won) Climate Response Fund, up 10.8% from 2025. The ministry said it has established a new Climate Energy Finance