Korea’s Emission Trading Market to officially launch on January 12, 2015

The Ministry of Environment (MOE) announced that Korea’s Emission Trading Market will officially open on January 12, 2015.

The opening date was decided through consultation with relevant agencies including Greenhouse Gas Inventory & Research Center of Korea (GIR) and the Korea Exchange (KRX). Before the official opening day, user registration of business entities eligible for allocation and over-the-counter transactions of emission permits can begin on January 2.

An official from MOE said that the opening date was adjusted not to overlap with the opening of other markets such as stock, securities and derivative markets. “The official launch date is pre-announced in order for business entities eligible for allocation to use the Emission Trading Scheme with sufficient information.

The decided date of opening will be included in the Detailed Enforcement Regulations for the Operation of Emission Trading Market and be notified to the industry. MOE designated KRX as the official emission permits exchange in January this year.