S-Oil and KT hope to create a gas station of the future

S-Oil and KT are teaming up to make gas stations smarter with the latest technology.

The oil refiner said Friday that it would share know-how on managing oil stations, while KT would offer its connected car solutions based on the Internet of Things (IoT), big data and other telecommunication technology.

The two companies plan to develop a futuristic gas station that can recognize cars as they enter and rid the need for customers to pay with card.

Instead, the station will be able to process payments through preregistered bank accounts or cards connected to the car.

The two companies will also work on creating new business models by combining KT’s 5G network and various IoT services with S-Oil’s nationwide network of gas stations.

By Kim Jee-hee