Hyundai Oilbank Strengthens Brand Competitiveness with 'Dinosaur Character' Premium Gasoline

[Asia Economy Reporter So-yeon Park] Hyundai Oilbank recently introduced three dinosaur-themed characters on the 4th. Ahead of finalizing the acquisition of operating rights for over 300 SK Networks gas stations, the company developed new characters to expand customer engagement. The three dinosaur characters are named 'Jio', 'Dio', and 'Kio', combining 'Gasoline', 'Diesel', 'Kerosene', and 'Oilbank', respectively. Jio represents smart benefits, Dio embodies friendly service, and Kio symbolizes a clean environment.

Hyundai Oilbank has renewed and launched its premium gasoline brand 'KAZEN'. 'KAZEN' is a blend of 'Kaiser', meaning 'emperor', and 'Zenith', meaning 'the highest', signifying the brand's aim for 'the highest quality' in the premium gasoline sector. Premium gasoline is the only automotive fuel product experiencing a rapid increase in demand. According to the Korea National Oil Corporation, domestic premium gasoline consumption rose from 880,000 barrels in 2016 to 1.35 million barrels last year, an average annual increase of 15.5%, while regular gasoline consumption increased only from 78.05 million barrels to 81.48 million barrels, an average annual growth of 1.4% during the same period. With recent sustained low oil prices and a strong preference for imported cars among younger consumers, premium gasoline demand is expected to grow rapidly for the foreseeable future.

Hyundai Oilbank's KAZEN was selected as the official fuel for last year's Korea's largest racing event, the Superrace Championship, demonstrating its excellent technology. Hyundai Oilbank plans to install three-dimensional advertisements in the professional K League soccer and expand its service stations to 300 by the end of the year, doubling the current number, aiming to increase its market share from the current 10% to 25%.