Government Approves SK Rent-a-Car's 'Electric Vehicle Greenhouse Gas Reduction Project'... First Case in Korea

Conversion to Approximately 200,000 Eco-Friendly Vehicles by 2030

▲The scene of SK Rent-a-Car's long-term rental sales broadcast introduced through Hyundai Home Shopping on the 21st

[Asia Economy Reporter Hwang Yoon-joo] SK Rent-a-Car has become the first in South Korea to receive government approval for a greenhouse gas reduction project utilizing electric vehicles.

On the 19th, SK Rent-a-Car announced that the "SK Rent-a-Car Jeju Billy Car Branch Electric Vehicle Introduction Project for Reducing Fossil Fuel Use and Greenhouse Gas Emissions," jointly promoted with SK Telecom, received formal approval from the Ministry of Land, Infrastructure and Transport after review by the Ministry of Environment's Emission Certification Committee.

This project involves converting internal combustion engine vehicles owned by SK Rent-a-Car to electric vehicles to reduce greenhouse gases, with the reductions being quantifiable.

SK Rent-a-Car used about 60 electric vehicles, including the Kia Niro EV and Hyundai Kona Electric models, operated at the Jeju Billy Car branch, to monitor the amount of greenhouse gases emitted by comparable internal combustion engine vehicles and calculate the expected reduction.

As a result, it was analyzed that approximately 150 tons of greenhouse gas emissions would be reduced annually.

SK Rent-a-Car and SK Telecom will secure ownership of the greenhouse gas reduction volume (carbon credits) through this project and are expected to sell them to other companies. The project is valid until January 2031.

SK Rent-a-Car plans to support SK Group's ESG (Environmental, Social, and Governance) management by exploring various measures such as expanding greenhouse gas reduction projects and providing customer benefits.

SK Rent-a-Car aims to convert about 200,000 vehicles it owns to eco-friendly vehicles by 2030. Additionally, by 2025, it plans to operate approximately 3,000 electric vehicles?the largest scale in the country?at its Jeju branch and develop the Jeju branch into an electric vehicle-exclusive complex equipped with charging facilities of 7,200 kW capacity.