GS Global invests in carbon credit firm to expand trading business
GS Global CEO Kim Sung-won, center, poses with Hooxi Partners Co-CEO Lee Haeng-youl, left, and Hooxi Partners Co-CEO Cho Seong-hoon after signing a strategic investment agreement in Seoul, Monday. Courtesy of GS Global
GS Global is expanding into carbon credit trading through an equity investment in Hooxi Partners, a Korean carbon credit specialist, seeking to monetize emissions reductions from its existing eco-friendly businesses.
GS Global said Tuesday that the investment would establish a strategic partnership, combining Hooxi Partners’ carbon reduction expertise with GS Global’s global network and trading capabilities.
The investment comes as Korea's fourth emissions trading scheme, covering 2026-2030, takes effect. Tighter emissions caps, expanded paid allocations and stricter global carbon regulations are raising the cost of securing carbon credits and increasing exposure to price volatility. GS Global aims to turn carbon credits into a new growth engine.
Founded in 2021, Hooxi Partners offers services ranging from carbon credit methodology development and emissions reduction project management to securing Korean Offset Credits (KOCs) and forward trading. The company focuses on transportation-related emissions reduction projects, particularly the transition to electric vehicles. It also operates emissions management platforms and provides corporate consulting.
Its program-based emissions reduction model groups multiple individual projects under a single registration and management framework, reducing administrative and verification burdens while enabling emissions reductions on a larger scale.
Hooxi Partners' revenue surged to 3.2 billion won ($2.4 million) in 2025 from 200 million won in 2024 and is projected to reach 7.8 billion won this year. The company turned profitable in 2025 and is expected to generate a net profit of around 3.3 billion won in 2026.
GS Global plans to integrate the partnership with its existing businesses, including electric bus adoption, solar and other renewable energy projects, biomass and resource recycling. It aims to convert emissions reductions from these activities into Korean Offset Credits (KOCs) and supply them to domestic and overseas buyers.
The company also plans to draw on its overseas customer network in steel, energy and industrial materials, along with Hooxi Partners' expertise, to identify and develop carbon reduction projects in international markets.
"Through this investment, we aim to enter the growing carbon credit market early and establish a new growth area," a GS Global official said, adding that the company would continue to expand cooperation on carbon reduction projects at home and abroad.