The city of Muan (Jeollanam-do province, South Korea) and the Sovia Viet Nam Carbon Credit Trading and Distribution Service Association recently held a seminar to launch the Sovia Korea-Viet Nam Carbon Credit Trading and Distribution Service Center. The Sovia Viet Nam Carbon Credit Exchange is expected to become operational by the end of September 2024.
The Sovia Carbon Credit Exchange will serve as a platform connecting supply and demand between carbon credit providers, intermediaries, buyers, and consumers. Beyond distribution and connection, Sovia will supervise the entire carbon credit trading process to ensure that the credits being provided are valid, ensuring that providers comply with carbon credit exchange criteria.
Additionally, Sovia's global standard technology for carbon credit trading and distribution offers an environment where end-product recyclers can easily and consistently comply with carbon-neutral regulations, ensuring that recycled products can be reconsumed.
Sovia’s carbon credit trading and distribution service is recognized as smart city technology by the South Korean government, enabling the continuous operation of trading services with the aim of achieving global carbon neutrality.
Kim Sang-Yong, Chairman of Soiva Korea, stated that the establishment of the Sovia Korea-Viet Nam Carbon Neutral Trading and Distribution Service Center aims to promote the carbon credit trading and distribution market between Viet Nam and South Korea.