The Global Voice in a Global Conversation

Use the Search or Tag facility to search this section using specific keywords.

Click on the SUBSCRIBE icon to receive a notification whenever a new article is published. Click on the TAG icon to search articles by tag.

Korea Exchange Joins the United Nations Sustainable Stock Exchanges Initiative as a Partner Exchange

Korea Exchange (KRX) publicly announced that it has joined the United Nations Sustainable Stock Exchanges (SSE) Initiative as a Partner Exchange to promote sustainable business practices among listed companies at the UN Global Compact Korea Leaders Summit 2015 held on the 19th May 2015 in Seoul.

The UN SSE Initiative, launched by Secretary-General Ban Ki-moon in 2009, aims to explore how exchanges can work together with investors, regulators and companies to enhance corporate transparency on Environmental, Social, and corporate Governance (ESG) issues and encourage responsible long-term approaches to investment.

Stock exchanges play a critical role in encouraging listed companies to practice sustainable business strategy to improve business performance on non-financial issues. KRX has made efforts on ESG related issues in Korea such as enhancing corporate governance of listed companies by introducing voluntary disclosure of ESG information.

KRX believes that pledging to the SSE Initiative will promote sustainable business performance of listed companies and will support practice of ESG in Korean capital market. Dr. Kyungsoo Choi, Chairman and CEO of KRX, emphasized the importance of corporate social responsibility; "I firmly believe that joining the SSE Initiative shows our strong commitment to being a responsible member in the international community. We will continue dialogue with stakeholders and work with exchanges as a member of the World Exchange Federation's (WFE) Sustainability Working Group, and will continue to support Korean listed companies to recognize the importance of sustainable management."

KRX will encourage spread of ESG practices in listed companies through providing corporate governance code, facilitating institutional investors to invest in corporations with transparent ESG practices, and also promoting sustainable long-term investment by developing a new Sustainable Responsibility Index. Moreover, KRX will endeavor to contribute to secure soundness of capital market in Korea by increasing responsibilities of exchange-listed companies to have sustainable business practices.

Photo: UN Secretary-General Ban Ki-moon (4th fromleft), Dr. Kyungsoo Choi, Chairman & CEO of Korea Exchange (5th from left) and Mr. Georg Kell, Executive Director of UN Global Compact (3rd from left) congratulate Korea Exchange's joining UN SSE Initiative.
Continue reading
9098 Hits

KRX Opens Emissions Trading Market on January 12, 2015

The Ministry of Environment and the Korea Exchange (KRX) announced that they will hold an opening ceremony of the emissions trading market at the KRX's main office located in Busan and kick off trading on January 12, 2015. 

The emissions trading market is opened pursuant to the Emissions Trading Scheme implemented since January 1, 2015 and trades KAU (Allowances allotted to corporations) and KCU (offsetting credit like CERs).

Market participants will be limited to corporations allotted with emission allowances and public financial institutions such as Industrial Bank of Korea, Korea Development bank and Korea Exim Bank through 2020 pursuant to the addendum of the Act on the Allowance and Trading of Emission Rights. Therefore, it is expected that most of the trading will be conducted by corporations that demand the emission rights.

The Ministry of Environment designated the KRX as an emissions trading market, and the Gas Inventory & Research Center of Korea (GIR) will be in charge of managing the ledger of emission rights.

In the afternoon on the same day, a workshop commemorating the opening of the emissions trading market will be held at Busan Lotte Hotel to discuss various perspectives and major issues.

Continue reading
7864 Hits