Pluglink Acquires Hanwha EV Charging Business, Jumps to 4th in Industry

EV charging platform Pluglink officially acquired Hanwha Solutions' EV charging business division, signaling a shift in the landscape of the domestic charging service market. Through this strategic acquisition, Pluglink has emerged as the undisputed 4th largest comprehensive charging service platform in South Korea. Through the asset transfer agreement signed on April 30, Pluglink secured approximately 14,000 EV charging infrastructure units and related assets from Hanwha Solutions. Adding the acquired units to the 18,000 units it previously operated, Pluglink immediately grew into a major operator with over 30,000 charging infrastructure units. This scale ranks it as the 4th largest among domestic charging operators. Since its establishment in 2021, Pluglink has achieved rapid growth based on its innovative residential-focused charging infrastructure construction and proprietary IT technology. Notably, it succeeded in turning a profit in 2024, just three years after its establishment, proving its robust business model, and recently demonstrated its strength by attracting 45 billion won in investment, reaching a cumulative investment of 86 billion won. This demonstrates that even during a temporary slowdown in the EV market's growth, its excellent IT-based operational efficiency and user-centric service innovation have been effective. Kang In-chul, CEO of Pluglink, evaluated this acquisition as "a significant milestone in Pluglink's growth strategy," and emphasized, "Based on our unique charging infrastructure operational capabilities and leading technology, we will set new standards in the EV charging service industry and further solidify Pluglink's position within the sector." Through this acquisition, Pluglink plans to go beyond mere expansion of charging infrastructure, strengthening its leadership in the domestic EV charging market through improved service quality and user experience innovation.