GS Caltex Ventures into Commercial Real Estate Development Utilizing Gas Stations

Development of Yeokjeon Gas Station near Seoul Station into a 13-Story Commercial Complex
Gas Station Transformed into a New Type of Energy Charging Space, 'Energy Plus Hub'
Designed as an Urban Lifestyle Space with EV Charging Gas Station, Shared Offices, and Neighborhood Facilities

[Asia Economy Reporter Hwang Yoon-joo] GS Caltex is embarking on a project to transform gas stations into commercial real estate, creating new lifestyle spaces in urban areas. Existing gas stations will be converted into new types of energy charging spaces that integrate electric vehicle and hydrogen vehicle charging, as well as micro-mobility, logistics, and F&B services. Furthermore, by developing 'urban gas stations' located in prime locations and commercial districts into complex facilities, GS Caltex plans to maximize not only petroleum product sales but also the commercial value of the real estate.

On the 30th, GS Caltex broke ground on its first case: a 13-story commercial complex called ‘Energy Plus Seoul-ro’ on the site of the Yeokjeon Gas Station near Seoul Station. The GS Caltex Yeokjeon Gas Station is a historic site that has witnessed nearly half a century of changes around Seoul Station since 1970.

GS Caltex’s ‘Energy Plus Seoul-ro’ will include the ‘Energy Plus Hub’ equipped with electric vehicle charging, shared offices, and neighborhood living facilities. In particular, floors 2 to 4, which are easily accessible to visitors, are designed as an 'Urban livingroom' concept that connects Seoul-ro and the nearby park’s green space. This green space extends up to the 13th floor, where a 'Sky garden' will be created on the rooftop. F&B and various retail stores will also be prepared to provide customers with both rest and convenience.

A GS Caltex official stated, "The future mobility environment is rapidly changing, so we must strengthen our competitiveness through innovation," adding, "We will continuously challenge ourselves to provide customers with new experiences through GS Caltex’s offline network."

Meanwhile, GS Caltex is actively responding to changes in the mobility environment, having opened the ‘H Gangdong Hydrogen Charging Station l GS Caltex’ in May, introducing the metropolitan area’s first integrated energy station capable of supplying all fuels including gasoline, diesel, LPG, electricity, and hydrogen.