Collaborating for a Sustainable Future: A Case Study of an Energy Conglomerate’s Transformation

Increasing demand for electric vehicles (EVs) is changing the ecosystem of the mobility industry as well as its business model. As EVs bring diverse industries to the mobility ecosystem, companies have new opportunities to expand or transform their businesses to meet their carbon reduction goals. In this ecosystem, charging infrastructure has the most important role in expanding EVs on the street, and EV charging is required to be public, fast, and convenient. Jeju island, Korea, sets a goal of being a Carbon-Free Island(CFI) by 2030 and puts efforts on expanding EV charging infrastructure over the island with the private sector. In this study, we explore how a company initiates and collaborates with the government and local entrepreneurs to transform its business while minimizing the risk of investment using the case of GS Caltex, a leading petroleum company in Korea. To understand how the collaboration is structured and functions effectively, we employ case study approach, conducting interviews with key stakeholders and reviewing relevant literature. Examining the early stage of the energy transition of the conglomerate in terms of collaboration and networking with other players, such as the government and SMB (Small and Medium Business), is yet underexplored. We discuss how our findings contribute to organically creating the new mobility ecosystem and increase the sustainability of our community. The challenges in the transformation towards net-zero provide insights that can guide future tools for designing and building new ecosystems.