Carbon market infrastructure firm Xpansiv has entered into a strategic agreement with the Korea Exchange (KRX) to support the launch of a new voluntary carbon market (VCM) in South Korea, according to a joint statement on Tuesday.
The companies will collaborate on building a carbon credit trading platform aimed at corporate buyers, compliance programs, and global frameworks such as the Paris Agreement’s Article 6 and the aviation industry’s CORSIA initiative.
KRX, operator of one of the world’s largest compliance carbon markets, plans to integrate its new market with Xpansiv’s CBL platform, currently the leading global spot exchange for carbon credits.
The move is intended to provide Korea’s VCM with immediate access to a global order book and liquidity from hundreds of international market participants.
Relevant: South Korea To Launch Carbon Emission Futures To Boost Climate Goals
Eun-bo Jeong, chairman and CEO of the Korea Exchange, said that KRX aims to establish Asia’s leading carbon market and plans to explore a wide range of collaborative opportunities with Xpansiv.
The partnership will seek to enhance transparency in carbon pricing and streamline access to high-quality credits for Korean and international participants alike.
In turn, John Melby, CEO of Xpansiv, expressed support for deepening the partnership with KRX, emphasizing the goal of building more interconnected global markets and advancing the development of Korea’s VCM.
A formal signing ceremony took place in New York City on September 16 to mark the agreement.
