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Pluglink Signs $11.9 Million EV Charger Assets Investment Agreement with KDB KIAMCO

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Pluglink Signs $11.9 Million EV Charger Assets Investment Agreement with KDB KIAMCO

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  • Pluglink is the first EV charging platform in Korea to sign EV charger assets investment agreement.
  • Pluglink raised a total of KRW 30 billion cumulative investment including KRW 17 billion in cumulative asset and KRW 13 billion in cumulative corporate investment.

Pluglink, an electric vehicle charging platform, announced on the 7th that it signed an investment agreement with KDB KIAMCO, the largest alternative asset manager in Korea, for a total of KRW 15 billion for EV charger assets.

Pluglink, acknowledged for its specialty in finance, introduced alternative investments in EV charger assets for the first time in Korea. Pluglink will provide total charging services for more than 7,400 EV chargers through this investment.

By signing the investment agreement with KDB KIAMCO, Pluglink raised the investment worth of KRW 17 billion in cumulative asset including KRW 2 billion investment by local city gas companies. With this, Pluglink has so far attracted a total of KRW 30 billion, including the KRW 13 billion of cumulative corporate investment.

See related article: Toyota and Lexus Offer Lower Emissions EV Charging Program

In-cheol Kang, CEO of Pluglink, said, “Starting with this first investment for EV charger assets, we plan to expand the scale of charger-oriented finance and proceed with various structured finance.”

Pluglink is the fastest growing company in the market that made contracts for more than 10,000 EV chargers up till now and operates 1,100 EV charging stations in Korea. Pluglink joined K-RE100 for the first time in the industry and became the market leader of ESG management. This year, Pluglink was selected as the 2023 EV fast charger auxiliary business by the Ministry of Environment and will continue to expand its business scope.

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