More efforts will be required of corporations going forward to reduce carbon. HUSHI Partners, which is developing technology to turn carbon value into an asset, is aiming to list on KOSDAQ in 2028.
On the 26th at aT Center in Seocho-gu, Seoul, Executive Director Park Jong-han of HUSHI Partners, an artificial intelligence (AI) carbon platform specialist, met with ChosunBiz at Korea Fintech Week 2025 and said, As in the case where Hyundai Motor since September has required first-tier suppliers to submit greenhouse gas reduction plans when signing contracts, demand for carbon reduction is increasing due to global regulations and corporations' requirements, and stated accordingly.
Founded in Nov. 2021, HUSHI Partners provides the AI carbon management platform NetZ and solutions for obtaining and transaction of carbon credits to corporations and public institutions. Carbon credits are rights that allow corporations or countries to emit a certain amount of carbon over a set period and are allocated by governments or international organizations.
HUSHI Partners' revenue model is a fee that occurs when revenue is generated by transacting the credits secured by client companies. It supports carbon management services to secure credits through the NetZ platform, and has increased service utilization by loading an AI agent onto the platform. S-OIL and Korea Midland Power (KOMIPO) use this service.
The external project under the emissions trading scheme is also one of HUSHI Partners' core businesses. It is a program that helps corporations that have not been allocated credits by the government (non-allocated corporations) have their voluntary greenhouse gas reductions recognized as official credits. HUSHI Partners' main clients are these non-allocated corporations.
The company recently signed a contract with Bucheon Bus, a city bus operator, enabling the corporation to measure and certify the amount of carbon reduced by its electric buses and convert it into credits for transaction. Executive Director Park explained, Of the 200 buses at Bucheon Bus, half are electric buses, but they were not subject to credit allocation, and (Bucheon Bus) was able to receive credits and generate transaction revenue.
To provide the certification solution, HUSHI Partners in 2022 received the nation's first approval from the Ministry of Land, Infrastructure and Transport for the Transport Sector Electric Vehicle Adoption Support Program reduction project. Executive Director Park emphasized, It takes an average of more than two years to obtain this certification, so it is not easy for latecomers to catch up.
Tightening carbon reduction regulations at home and abroad are also serving as a growth driver for HUSHI Partners. In particular, starting next year, the European Union (EU) plans to fully implement the Carbon Border Adjustment Mechanism (CBAM), which mandates the purchase of credits based on carbon emissions when importing six key items such as steel and cement.
According to the 2035 national greenhouse gas reduction target (NDC) plan finalized by the Ministry of Climate, Energy and Environment, Korea aims to cut net domestic greenhouse gas emissions by 53% to 61% by 2035 compared with 2018.
HUSHI Partners was selected last month as an official implementing agency for the Carbon-Neutral Management Innovation Voucher Project by the Small and Medium Business Corporation. It provides consulting, such as calculating carbon emissions, to help small and midsize manufacturing corporations respond to global carbon regulations like CBAM.
HUSHI Partners is aiming to list on the KOSDAQ market in 2028. Funds raised through the listing will be invested in expanding its existing credit business. As of the third quarter this year, HUSHI Partners achieved cumulative sales of 2.2 billion won. The company expects annual sales of more than 3 billion won this year.
Executive Director Park said, As a leading corporation in the climate Fintech industry, we will build a carbon finance ecosystem in which we can participate in credit development and transaction, and support corporations in achieving their carbon-neutral goals.