Korea Exchange (KRX) said on the 27th that it participated in the "Korean voluntary carbon market alliance launch ceremony" hosted by the Ministry of Planning and Budget. The exchange plans to establish a listing review system for carbon credits and pursue linkages with overseas exchanges.
At the launch ceremony, the Ministry of Planning and Budget, Korea Exchange (KRX), and the Korea Chamber of Commerce and Industry, along with large corporations, mid-sized companies, startups, and financial institutions, gathered to discuss directions for creating a voluntary carbon market.
At the launch ceremony, the exchange announced plans to open the "KRX carbon credit market." It said it would establish a listing review system to prevent concerns about greenwashing caused by the distribution of low-quality carbon credits and would work with the government and domestic carbon credit registration bodies to build a stable and efficient platform.
It also plans to attract foreign capital. The exchange introduced a plan to pursue cross-border linked transactions through cooperation with global carbon credit exchanges, registries, and investors, and to draw overseas liquidity into the KRX carbon credit market. In September last year, the exchange signed a memorandum of understanding (MOU) with Xpansiv, the operator of the world's largest carbon credit trading platform.
Jeong Eun-bo, chair of Korea Exchange (KRX), said, "The voluntary carbon market is becoming a necessity, not a choice, from the perspective of corporate social responsibility," and added, "Based on 11 years of experience operating the emissions trading market, we will develop the KRX carbon credit market into a global hub."