Mobility concierge platform company Chabot Mobility (CEO Kang Sung-geun) and blockchain infrastructure specialist EQBR Holdings (CEO Lee Hyeon-gi) announced on the 17th that they have signed a business agreement to develop a blockchain-based K-used car export service.
This agreement is a strategic collaboration to build a digital-based export ecosystem in response to the growing demand for Korean used cars in the global market. The two companies will jointly design a used car export payment product utilizing blockchain technology and develop a used car quality certification service.
The used car export market has recently shown rapid growth, but challenges persist due to complex payment procedures and opaque distribution structures. In particular, overseas buyers are facing difficulties in securing high prices and quality assurance as indirect purchases through local brokers have become commonplace. To address these issues, Chabot Mobility aims to create a transparent and efficient trading environment by applying blockchain technology.
Through this collaboration, the two companies plan to implement three core values: ensuring vehicle quality reliability, shortening remittance procedures and reducing fees, and establishing a transparent payment process.
EQBR Holdings is a leading domestic blockchain company with full-stack development capabilities, spanning blockchain engines, infrastructure, and service layers. It boasts differentiated competitiveness in security authentication and stablecoin payments. Leveraging EQBR's technology, Chabot Mobility plans to introduce a system that allows overseas buyers to directly select vehicles online and make quick and secure payments. Furthermore, the company plans to establish a quality assurance system utilizing blockchain certification to enhance the trust of overseas buyers.
Through this collaboration, Chabot Mobility plans to strengthen the competitiveness of its technology-based auto-commerce business model in emerging markets such as Mongolia. In particular, securing quality trust through blockchain certification is expected to be a key factor in elevating the overseas market's perception of Korean directly imported vehicles.
Chabot Mobility Vice President Kang Byeong-hee said, “With the growing overseas demand for K-used cars, this collaboration holds significant significance in enhancing both market reliability and convenience.” He added, “By incorporating EQBR’s technological prowess, we will strengthen our competitiveness as a global auto commerce platform and create an environment where overseas buyers can trade with confidence.”
Lee Hyun-ki, CEO of EQBR Holdings, stated, “This collaboration is an example of blockchain infrastructure being applied to the real-world trade sector. Quality assurance through blockchain certification and a stablecoin-based payment structure will significantly improve inconveniences in the existing export market.”
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