SEOUL, June 29 (Korea Bizwire) — The National Fire Agency has announced that the revised enforcement regulations of the Hazardous Material Safety Management Act, with a focus on relaxing standards for the installation of electric vehicle (EV) charging facilities at gas stations, will take effect on Thursday. The existing enforcement regulations stipulated that EV chargers [...]
SEOUL, June 12 (Korea Bizwire) — In a significant development for the energy industry, the National Fire Agency announced on Sunday that the installation of hydrogen fuel cells, a form of power generation equipment, is now legally permissible at gas stations. This announcement follows a partial amendment notice to the detailed standards of the Act [...]
SEOUL, Sept. 17 (Korea Bizwire) — With the expansion of the ‘quick commerce market’, which offers guaranteed delivery within an hour, South Korean firms are employing gas stations as warehouses and logistics hubs. It has become a new alignment of interest between the quick commerce industry that needs logistics hubs in the heart of the [...]
SEOUL, Feb. 23 (Korea Bizwire) — South Korean gas stations are on the brink of a financial crisis after being hit hard by COVID-19 last year. The Korea National Oil Corporation and Korea Oil Station Association reported that 96 gas stations across the country closed down last year, double the number reported in 2019. The [...]
SEOUL, Sept. 15 (Korea Bizwire) — The number of gas stations in South Korea going out of business since the onset of the coronavirus pandemic has almost surpassed the total number of stations that shut down last year. The state-run Korea National Oil Corporation reported that there were 11,384 gas stations in the country as [...]
SEOUL, Oct. 22 (Korea Bizwire) — South Korea’s gas stations are teaming up with courier service operators to utilize their facilities as logistics hubs as they bring a new wave in the local delivery industry. Hyundai Oilbank Co., a major refiner in South Korea, earlier this month signed a strategic partnership with Coupang Inc., the [...]
SEOUL, Jul. 17 (Korea Bizwire) — It may seem to be a contrarian ploy for a gas station to provide an electric vehicle (EV) charging service, but local refiners have been quick in adding such services in an attempt to capitalize on the fast-growing battery-powered car segment. Three of four major South Korean refiners are [...]
SEOUL, Mar. 11 (Korea Bizwire) — The number of gas stations in South Korea dropped for the fourth straight year in 2018 amid worsening profitability facing the industry, data showed Monday. As of end-December, 11,769 petrol stations were operational across the country, down 196 from a year earlier, according to the data by the Korea [...]
SEOUL, Dec. 10 (Korea Bizwire) — GS Caltex Corp. and SK Energy Co., South Korea’s leading refiners, have teamed up to launch QBoo, a smart storage service found at gas stations. QBoo allows parcel exchanges, buying and selling second-hand goods, and storing laundry and other goods, using storage lockers. This will increase the inflow of customers at [...]
SEOUL, Jul. 17 (Korea Bizwire) — Homepick, a joint venture by local energy giants SK Energy and GS Caltex to provide delivery service based on their network of gas stations, is defined by the following tagline: “We deliver within an hour if you’re home.” In the past, delivery service customers had to either wait at [...]