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According to Yonhap News,
Gwangju City, south Jeolla Province (Jeonnam) and Korea Power Exchange (KPE) held a committee meeting to attract the carbon credit exchange to Gwangju-Jeonnam Joint Innovative City in Naju, Jeonnam.
The committee is comprised of officials of Gwangju and Jeonnam local governments and people from the economic, academic, media, financial, industrial and civic sectors.
They discussed details of enforcement ordinances concerning allocation and transaction of carbon emission credit.
They reached a conclusion that KPE, a professional energy institution, should be tasked with managing carbon credit for a certain period of time to relieve economic burdens of businesses, required to meet carbon reduction targets, since it is the first time for Korea to operate the carbon market.
They also came to an agreement that the Ministry of Knowledge Economy should be the authority in charge.
"Jeonnam will be the region that is aggressively engaged in carbon credit transaction. We will make every effort to attract the carbon credit exchange to our region in partnership with relevant institutions and organizations."