Tough opposition from businesses means the carbon trading system proposed by President Lee Myung-bak is in danger of being postponed. South Korean businesses are said to see only the regulatory impact of the carbon trading system and do not fully recognise the role it has in promoting business and economic growth (and the bigger picture of climate change). The government has previously said that it will announce a bill early 2011, for implementation in 2013; however, due to the resistance, it is likely that this will be delayed.