November 30, 2024

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New logo of GS Connect (GS Energy)

GS Energy, an energy arm of South Korean conglomerate GS Group, said Wednesday that it has renamed its electric vehicle charging subsidiary GS Connect.

The subsidiary is a joint corporation, created by GS Energy and local EV charging firm Gntel. The two companies hold a 50 percent stake each.

While stressing its identity as part of GS Group, the subsidiary hopes to expand the business and bolster customer trust. The name change also includes the company’s promise to connect with GS Group’s other units to provide customers with the best service possible, it added.

GS Connect will share payment services with GS Group’s petroleum arm GS Caltex to provide a “charging-roaming service,” allowing customers to freely use services from both companies. It will also allow customers to pay with GS&Point, a cash-back point system provided by GS Group’s retail unit GS Retail.

“Using GS Connect’s brand launch as an opportunity, we will provide better services by unifying the capacity of GS Group subsidiaries,” said GS Energy Vice President Lee Jung-wook.

GS Connect currently operates over 10,000 chargers nationwide and plans to increase to 50,000 by 2024. This would make it the largest business in the EV charging industry.

Its parent company jointly took over local EV charger manufacturer AppleMango with LG Electronics last month. The energy company said it hopes to build a value chain within the EV charging industry.

Meanwhile, GS Connect is set to participate under its new name in an EV charging infrastructure exhibition held between July 28-31 at Coex in Gangnam-gu, Seoul.

By Lee Seung-ku (seungku99@heraldcorp.com)