Published On: Sun, Mar 17th, 2013

KRX and KNOC to Collaborate on Promoting Electronic Petroleum Market

KRX CEO Kim Bong Soo

KRX CEO Kim Bong Soo

On Wednesday, Mar. 14, KRX(Korea Exchange) Chairman & CEO Bongsoo Kim and KNOC(Korea National Oil Corporation) President & CEO Moon-kyu Seo signed a Memorandum of Understanding(MOU) on mutual cooperation to promote KRX’s Electronic Petroleum Spot Market.

Last year, KRX opened an electronic trading platform for spot petroleum commodities to improve efficiency in petroleum distribution and to stabilize market prices. Trading volume of market participants – refineries, importers and gas stations etc. – has grown over 40-fold since the launch of the market to over 9 million liters per day.

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