MOTIE is also in charge of overseeing regulatory authorisations for electricity business and thus supervises the allocation of permits needed for generation business, except for any generation business with a total capacity of 3MW or below, the permits of which are overseen by the head of the provincial government or relevant local administrative agency. KPX, an agency under MOTIE, operates the electricity power market as well as trade market for renewable energy certificates (RECs).
Source: https://www.lexology.com/gtdt/tool/workareas/report/renewable-energy/chapter/south-korea