Chaebi Leads Expansion of Electric Vehicle Charging Infrastructure... Over 1,800 Stations Built Annually

As the expansion of electric vehicle (EV) charging infrastructure emerges as a key task for the widespread adoption of EVs, Chaebi (formerly Daeyeong Chaebi, CEO Choi Young-hoon), the leading rapid CPO (Charging Infrastructure Operator) company, announced on the 15th that it has solidified its industry-leading position by establishing more than 1,800 rapid charging stations for two consecutive years.

According to the Ministry of Environment's Zero-Emission Vehicle Integrated Website, Chaebi, the top rapid charging company, has strengthened its market share by deploying over 1,800 rapid chargers each year over the past two years, the largest scale in the industry. Considering that major rapid CPOs are currently reducing their investments in charging infrastructure, Chaebi’s steady growth is regarded as an example of differentiated competitiveness within the industry.

Currently, Chaebi leads the market as the number one rapid CPO in South Korea, directly operating about 5,500 public rapid charging stations. Including approximately 4,700 charging stations supplied to the Ministry of Environment, Chaebi operates more than 10,000 rapid charging infrastructures nationwide, playing a crucial role in the development of the EV charging market.

According to Ministry of Environment data, as of the end of 2023, there were about 34,386 rapid charging stations in South Korea, marking a 66% increase (13,649 stations) compared to 2022. However, the growth rate last year is expected to be only 24% (8,100 stations). This slowdown is mainly attributed to practical constraints such as rising site rental fees and a shortage of suitable installation locations. Nevertheless, EV users prefer rapid charging stations due to their faster charging speeds, and the gap between supply and demand remains unresolved.

Additionally, while there are about 350,000 slow chargers in South Korea, representing one of the highest global penetration rates, their slow charging speed and low user convenience create a significant obstacle for consumers considering EV purchases due to the shortage of publicly accessible rapid charging stations that enable fast charging. Despite these environmental constraints, Chaebi has recorded remarkable growth for two consecutive years, establishing itself as the leading company in the CPO market.

The foundation of Chaebi’s success lies in its data-driven strategy and efficient operational system. Chaebi selects optimal installation sites by analyzing EV users’ movement patterns and charging demand through its self-developed site evaluation system. Furthermore, in cooperation with the government, it has addressed urban installation constraints by building charging stations at highly accessible public sites such as major landmarks in Seoul and government offices nationwide.

Through a swift installation process and data-based strategies, Chaebi has added more than 1,800 charging stations for two consecutive years, realizing the expansion of rapid charging infrastructure and enhancing convenience for EV users. Based on this competitiveness, it is further solidifying its leading position in the CPO market.

Choi Young-hoon, CEO of Chaebi, stated, “As EV adoption expands, the demand for charging infrastructure is rapidly increasing, but the recent slowdown in deployment has caused inconvenience for EV users. Moving forward, Chaebi will continue to contribute to meeting domestic EV users’ needs and expanding EV demand by building a stable and reliable rapid charging network.”