S. Korea, CCX to cooperate in carbon emission trading

SEOUL, Feb. 4 (Yonhap) -- South Korea's government said Thursday that it has
agreed with a U.S. carbon exchange operator to intensify bilateral cooperation as
it seeks to launch its own market for carbon emission rights trading.
The Ministry of Knowledge Economy said that the agreement was reached with the
Chicago Climate Exchange (CCX) which has accumulated operation expertise and
infrastructure for carbon trading in the field of steel, textile and chemical
industries.
Established in 2003, the CCX is first U.S. voluntary pilot program for trading of
greenhouse gases.
Through the cooperation, the ministry expects that it can learn experience and
know-how needed to design the nation's own carbon emission rights trading system
that reflects the unique aspects of local industry structure and that will have
the potential to be linked to the global trading markets down the road.
kokobj@yna.co.kr
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