South Korea resolves escalating dispute over electric vehicle charging facilities through STO project

How can we resolve the increasingly fierce disputes over electric vehicle charging facilities? We have solved this problem through "fractional investment" (a method of dividing one asset so that multiple people can invest in it).
One company that has been actively trying to solve this problem is Chajiin, a company that specializes in electric vehicle charging platforms.
"The electric vehicle charging STO (token securities issuance) business will be a solution to resolve the issue of electric vehicle charging among residents in apartment complexes," he said in a statement.
Chajiin, led by CEO Choi, is a company specializing in electric vehicle charging platforms. How will the limited electric vehicle charging facilities installed within buildings be managed?
We provide professional solutions by considering how to operate the facility efficiently. We provide a variety of solutions such as optimized charging of power equipment, time-of-use fee levies, and fee differentiation for residents and outsiders.
It is a B2B (business-to-business) company that supplies electric vehicles, and has major clients such as IBK Industrial Bank, Korea Federation of Small and Medium Enterprises, and Korea Electric Power Corporation. How to resolve electric vehicle charging disputes through STO
Disputes over electric vehicle charging in apartment complexes are steadily increasing. Electric vehicle chargers cost more than 1 million won (US$1,000) per unit to replace.
Non-users of electric vehicles must also share the cost of replacing the facilities as part of the management fee, which can lead to disputes between electric vehicle users and non-users in apartment complexes.
How can such disputes be resolved by splitting investments in electric vehicle charging? CEO Choi said that if the tenants share the profits from the electric vehicle charging facility, it will reduce conflicts.
We came up with an investment product that would allow any investor who invests in electric vehicle charging token securities to receive a share of the profits from the electric vehicle charging business.
Investors will receive profits from the operation of electric vehicle charging facilities, similar to dividends from stocks.
"It can resolve disputes. It's a rational way to resolve the complex conflicts of interest between property owners, tenants, electric vehicle users, and non-electric vehicle users."
Carzhiren will offer the electric vehicle charging facilities that the company has invested in and purchased as the base asset to investors and issue tokens.
"We plan to issue a single security for electric vehicle charging facilities distributed around the region, and then allow people to invest in it separately. This is the first time that electric vehicle charging token securities will be issued," said CEO Choi.
The public offering will be worth about 1 billion won. "Due to limitations in power facilities, it is not possible to install as many chargers as we would like, and the chargers that are available first will be able to ensure stable profits," he said.
"We can do it," he explained. To this end, Chajiin has partnered with Hanwha Investment & Securities, law firm Kwangjang, and Galaxy Moneytree to provide innovative financial services in December last year.
Only companies designated as innovative financial services by the Financial Services Commission can issue token securities. Chajiin will be the issuing company, and Hanwha Investment & Securities will be in charge of asset trust, account management institution, distribution, etc.
The law firm Gwangjang will provide legal advice for the service, while Galaxy Money Tree will handle business consulting. Competitiveness born from experience... a company that is strong in regulations
Chazhiren is a "company that is strong in regulations" that has participated in many government regulatory sandbox projects.
He expressed his confidence that he will utilize the know-how he has built up as a fintech company in the STO market. He said, "We have gained experience in various regulatory sandboxes, so we are able to successfully receive the Financial Services Commission's innovative financial services designation.
"We are doing our best to make this happen," he said. In fact, Chajiin was the company that received the Republic of Korea Regulatory Sandbox Temporary Permit No. 1 in 2019 for its "paid outlet."
The company has been operating under a temporary permit for the sharing of personal chargers. It also has experience in blockchain-related businesses. CEO Choi said, "We are looking forward to establishing an electric vehicle charging infrastructure in Jeju Special Self-Governing Province.
"We successfully operated the sharing platform business," he explained. The company participated in an electric vehicle charging service business in the Jeju Special Regulatory Free Zone from January 2020 to December 2021.
At the time, the company was praised for increasing consumer convenience by diversifying payment and settlement methods for electric vehicle users.
"This STO project is an expansion of the project we conducted in Jeju Island," said CEO Lee. "A system to divide ownership of charging facilities will be added."
The company is also expected to actively develop its overseas business.
The company has established a subsidiary and launched an electric vehicle charging service. Carzhiren plans to introduce token securities into its electric vehicle charging business in Indonesia.
"We have received an order for the right to install electric vehicle chargers at 200 gas stations in Indonesia.
"We are considering applying STO to this project," he said. He added, "Car People will lead the market by considering the combination of electric vehicle charging facilities and new financial techniques."
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