- Investments to be used for the construction of related buildings with the aim of becoming a leading p_ in the domestic EV rental market
- “Constant efforts to be made in order to put ESG management into practice, the detailed developments to be shared”

SK rent-a-car convened the board of directors on the 14th and decided to invest KRW 40.6 billion in building a complex dedicated to EV in Jeju, which will be the largest in size in Korea. And this is the decision on the first business project associated with the agreement signed with Korean Electric Power Corporation (KEPCO). Last April, both agreed to establish a charging facility with a capacity of 7,200kW, the equivalent of charging 3,000 units. Accordingly, the work begins on the construction of buildings from this month and runs through September 2022.

Pursuant to the agreement, the EV-exclusive complex is scheduled to be completed by 2025. This facility is expected to provide abundant experiences of using EVs for 1,300,000 short-term rental customers with a huge array of EV choices and charging services. And at the same time, it will make a contribution to making ‘Carbon-free Jeju’.

A SK rent-a-car official said, “the decision on the investment has been made in order to keep up with the growing eco-friendly EV market so that we become a leading p_ in this field. It is also to stay true to ESG management, one of the core focuses of SK Group.” And he added, “Hopefully, it will contribute to the progress of Green New Deal driven by the government as well as to the transition to the era of EV nationwide.”

In the meantime, the company had a discussion on the investment at its ESG Committee on the 8th before bringing up this issue at the BOD meeting. SK rent-a-car put in place this committee in an effort to put ESG management at its heart. The committee pursues free discussions without formalities so that it can create an environment for practical discussions on ESG at the level of BOD and the regarding guidelines can be drawn up. The committee and the way it works is the representation of ESG management driven by the BOD.

An SK rent-a-car official said, “we will share how it will unfold in detail with our stakeholders to satisfy the rights to know. As an EV rental company, our efforts to put ESG management into action will not relent.”

※ SK rent-a-car’s EV-related key progress in 2000-2021
June 2020

▶Collaborated with KEPCO for the development of new services for EVs
October 2020

▶Launched ‘EV All in One’, the first unlimited EV charging deal in the field + Invested in Softberry
▶Signed an MOU with SK telecom to work on GHG mitigation demonstration project using EVs
February 2021

▶Issued green bonds for the first time since its foundation with the aim of the reinforcement of eco-friendly vehicle rental business
March 2021

▶Declared to be EV-centered Mobility Rental Company
▶Joined KE-100 driven by the Ministry of Environment
April 2021

▶Made a business agreement with KEPCO on the construction of EV-exclusive complex in Jeju, the largest in size in Korea

▶Joined hands with SK innovation for EV battery solution development

[SK rent-a-car CI]