KRX signs MOU with US-based carbon credit exchange Xpansiv

Korea Exchange (KRX) Chairman Jeong Eun-bo, left, shakes hands with Xpansiv Chief Executive Officer John Melby at the Xpansiv headquarters in New York, Wednesday. Courtesy of KRX

Korea's main bourse operator said Wednesday it has partnered with Xpansiv, a U.S.-based operator of a major carbon credit spot exchange, to strengthen carbon credit-related business.

Under their memorandum of understanding (MOU), the Korea Exchange (KRX) and Xpansiv will explore the possibility of launching a KRX-affiliated carbon credit market in Korea.

Xpansiv is the operator of CBL, the world's biggest carbon credit exchange platform.

The KRX said it will review establishing related infrastructure to allow local companies to trade carbon credits issued overseas.

"We aim to foster Asia's leading carbon market and in this process, we expect to explore opportunities for cooperation with Xpansiv," said KRX Chairman Jeong Eun-bo.