Korean independent gas stations to operate under a common brand

Korea’s independent gas stations can begin operating under a common brand starting next year. The Association of Independent Gas Stations made the announcement after it was set up on September 1. Since the independent gas stations will no longer be tied to the big refiners such as GS Caltex or S-Oil, they will be able to sell at lower prices. The government has been formulating support measures for the independent gas stations so that it can control fuel prices. Chief of Independent Gas Stations Ham Jae-duk said that more than 300 of the 340 independent gas stations are expected to join the group. With the support of the government, they hope to curtail the increase in prices. Among the support measures being considered by the government is subsidizing the KRW 1.2 million (US$1,060) annual fee which is required from the participants in the Korea Institute of Petroleum Management’s fuel quality certification program. (September 16, 2011)