Wellbiotech Accelerates New Electric Vehicle Business... Opens 'EV LUCY' Charger Exhibition Hall at Headquarters

[Asia Economy Reporter Hyunseok Yoo] Wellbiotech announced on the 24th that it has opened an ‘Electric Vehicle (EV) Charger Promotion Exhibition Hall’ on the first floor of its headquarters in Samseong-dong, Gangnam-gu, Seoul. This move reflects efforts to enhance product competitiveness and accelerate market entry in line with the government’s policy to expand the supply of EV charging facilities.

A Wellbiotech official stated, “The EV charger business is progressing rapidly through close cooperation with our partners,” adding, “The ‘EV LUCY’ exhibition hall has opened on the first floor of Wellbiotech’s headquarters, and it is open for anyone to visit freely. We also plan to expand experiential programs related to business sectors we intend to enter in the future.”

He continued, “As the mandatory installation system for EV charging facilities is being strengthened from this year, we will take the lead in supplying various affordable EV chargers suited to domestic conditions.”

Wellbiotech’s EV charger brand ‘EV LUCY’ focuses on three main models: a 7kW slow charger, a 100kW fast charger, and a 200kW fast charger.

Along with expanding the supply of EV chargers, Wellbiotech aims to build a total platform capable of managing all information related to electric vehicles. As the developer of the vehicle-related blockchain platform ‘Treecle’ and operator of the ‘Treecle Token,’ Wellbiotech plans to create an EV-specialized platform based on the Treecle Token in partnership with Katree.

Expanding EV charging infrastructure is currently the most urgent task before the popularization of electric vehicles. According to the Ministry of Environment’s website as of the 19th, there are 94,539 EV charging stations nationwide. The government aims to add 60,000 more units this year, expanding the total to 160,000 units.

Accordingly, under the ‘Partial Amendment to the Enforcement Decree of the Act on the Development and Promotion of Environmentally Friendly Automobiles,’ scheduled to take effect on the 28th of this month, the mandatory installation targets for EV charging facilities will be expanded and the required ratios strengthened. The mandatory installation criteria, which previously applied only to new buildings, will be extended to existing buildings as well, raising the requirement from 0.5% to 5% for new buildings and from 0% to 2% for existing buildings. The mandatory installation standards will also be tightened: for public buildings and facilities open to the public, the threshold will be lowered from 100 parking spaces to 50, and for apartments and other multi-family housing, from 500 households to 100 households.