WFDB Signs Deal with Korea Bourse

RAPAPORT... The World Federation of Diamond Bourses (WFDB) has agreed tohelp promote business for the Korea Diamond Exchange (KDE). The trade bodies signed a cooperation agreement inJohannesburg, South Africa, last week, with the WFDB committing to assist thebourse in lobbying the South Korean government on matters relating to thediamond trade. The trade bodies will work together to build up the South Koreandiamond industry, as the WFDB has been doing for China's Shanghai Diamond Exchange, the federation added. The KDE, which was established in 2011, was instrumental in getting the South Korean government to reduce taxes on diamond imports in December, the WFDB said last week. Image: KDE chairman Nam Chang-Soo and WFDB president Ernie Blom signing the agreement. (WFDB)