Reducing CO2 emissions economically and efficiently necessitates the construction of carbon capture and storage (CCS) infrastructure as a comprehensive network that is capable of disposing of, and of utilizing CO2. Most of the early attempts to design and model the future CCS infrastructure were either limited to examining an individual component of the CCS infrastructure or focused on design and operation of a deterministic, steady-state network in which CO2 emissions are constant over time. In this paper, a multiperiod model for planning CCS infrastructure is developed to consider variation of the emission reduction target, as well as the variation of CO2 emissions over a long-term planning interval, thus leading to phased infrastructure development. The proposed model can help determine where and how much CO2 to capture, store, transport, utilize or sequester for the purpose of maximizing the total profit of the CCS infrastructure while meeting the CO2 mitigation target during each time period of the planning interval. The features and capabilities of the model are illustrated by application of the future CCS infrastructure on the east coast of Korea. The results will be helpful to multiperiod planning of the development of a CCS infrastructure.