SOCAR Partners with LG Electronics on Smart EV Charging Infrastructure

Seoul, South Korea - The mobility platform SOCAR Inc (403550. KS) and LG Electronics (066570. KS) partnered to develop electric vehicle charging infrastructure and improve energy efficiency through smart charging solutions.

The companies will install 30 smart chargers in Jeju Island to service SOCAR's electric vehicle fleet.

By October 2025, they plan to expand to 200 Vehicle-to-Grid (V2G) charging stations.

The partnership focuses on three key areas: uncrewed smart charging station operations, developing integrated management system protocols, and artificial intelligence-based charging operations.

SOCAR will implement unidirectional charging control (V1G) technology to participate in power demand response programs, allowing charging speed adjustments based on grid requirements.

The companies selected Jeju Island for initial deployment due to its high renewable energy usage and electric vehicle adoption rates.

The location hosts SOCAR's largest single-zone station.

As of October 2024, SOCAR operated approximately 900 electric vehicles nationwide, expanding from its initial EV fleet launch in 2016.