[Stock in Focus] CanvasN Rises as Environment Minister Nominee Highlights 'Strengthening Carbon Emissions Market'... STO-Based Business in Spotlight

CanvasN is showing strong performance. This is interpreted as being influenced by the news that Environment Minister nominee Kim Sung-hwan intends to strengthen the function of the carbon emissions trading market.

As of 1:01 p.m. on July 15, CanvasN was trading at 4,765 won, up 3.03% from the previous day.

On July 15, Environment Minister nominee Kim Sung-hwan stated, "In order to respond to the climate crisis, it is urgent to minimize the use of fossil fuels and to secure the necessary energy through a major transition to renewable energy."

He also announced plans to significantly increase the proportion of paid allocation of carbon emission permits. Kim said, "By raising the proportion of paid allocation for emission permits, we will strengthen the carbon reduction function of the emissions trading market," and added, "With the increased revenue from emission permits, we will create a virtuous cycle by expanding support for decarbonization transitions in high-emission industries."

Meanwhile, in May, CanvasN signed a strategic business agreement with Tantan Carbontech (formerly EETS), the operator of Korea's first private carbon credit exchange, and has been working on developing STO products based on eco-friendly assets. Recently, the company has been pursuing business agreements with domestic carbon capture technology firms. These companies are known for localizing eco-friendly materials that were previously entirely dependent on imports.

With the upcoming legalization of STOs, CanvasN aims to collaborate with technology companies to secure a diverse range of tangible assets with growth potential by combining carbon emission permits with its existing IP, such as dramas.

CanvasN has completed the development of STO products based on carbon emission permits. Through this, the company is issuing and trading real carbon emission permits as blockchain-based tokens, thereby securing transparency, liquidity, and accessibility.