GS Caltex·GS Energy Invest 30 Billion KRW in Kakao Mobility

Expected Synergy Between Gas Station Infrastructure and Mobility Platforms
CEO Heo Se-hong's New Gas Station Business Gains Momentum

[Asia Economy Reporter Hwang Yoon-joo] GS Caltex, the largest energy network operator in Korea, is investing a total of 30 billion KRW in Kakao Mobility together with GS Energy. This is to respond to technological innovation in the mobility market. GS Caltex plans to enhance synergy with new platforms in the future through its gas station infrastructure.

On the 26th, GS Caltex announced that it acquired a 0.73% stake in Kakao Mobility by investing 25 billion KRW and 5 billion KRW respectively with GS Energy. GS Caltex is the first company among domestic infrastructure and network business-based firms to invest in Kakao Mobility.

GS Caltex will utilize Kakao Mobility’s future foundational technologies and data such as autonomous driving to advance its owned infrastructure facilities including gas stations and charging stations.

Kakao Mobility recently introduced car management services such as electric vehicle charging, vehicle maintenance, and on-site car washing based on various big data related to mobility and advanced analytical know-how, and is expanding the mobility platform area into 'movement of services and objects' by challenging parcel delivery and other services. Through this investment, GS Caltex plans to use its infrastructure as offline hubs for various mobility services such as mobility services and parking lot businesses. It also intends to seek synergy in areas such as vehicle maintenance and fuel supply for directly operated taxis.

GS Caltex and Kakao Mobility have been continuously collaborating on mobility-related projects. Since July last year, GS Caltex has been operating facilities to charge batteries for Kakao Mobility’s electric bicycles, 'Kakao T Bike,' in idle spaces at gas stations, and in January this year, it conducted a sandbox regulation pilot test for "driver shift outside taxi garages" using GS Caltex LPG charging stations.

This collaboration is expected to strengthen GS Caltex’s new mobility-related businesses based on gas stations, including electric vehicles, autonomous vehicles, and car sharing.

A GS Caltex official stated, "The future mobility market is a collaborative arena where different technologies such as autonomous driving and artificial intelligence (AI) converge, making organic cooperation between different industries very important," and added, "We will continue cooperative relationships in various fields for future mobility innovation beyond this investment.”