Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
GS Caltex, a South Korean oil refiner and energy company inked a deal with the Korean unit of IKEA, a furniture retail chain, to launch a pickup service at gas stations. For starters, it was mentioned that the first service center would open in one of the gas stations in Gangnam, Seoul.
As per The Korea Herald, GS Caltex and IKEA Korea will initially open one pickup station and they have plans to open more. They are reported to be looking at expanding the project across the nation later this year.
The partnership to launch the service will offer convenience and the benefit of lower delivery fees. This is because the pickup stations are projected to cut the furniture delivery fees and reduce it to only ₩19,000.
Based on the report, IKEA Korea has high delivery fees due to the size and weight of the furniture and other products it sells. GS Caltex stated that its move to team up with the furniture company comes as the number of online shoppers who also avail of the pickup service has grown during the COVID-19 pandemic. The energy firm added that with its new offering, in partnership with IKEA, it is hoping that the reduced delivery fees will attract more customers.
“Gas stations are great in terms of load space but also for logistics vehicles to enter,” a GS Caltex official said. “They are everywhere around the country, making them a good fit for a logistics hub.”
After launching the service in Gangnam, IKEA Korea may add more pickup points in Daegu, Daejeon, Cheonan, Pyeongtaek, and Changwon. The number of GS Caltex’s gas stations is very beneficial and ideal for the pickup service for the furniture seller.
Meanwhile, Aju Business Daily reported that online shopping customers of IKEA Korea could choose to pick up their orders at GS Caltex gas stations. By the end of this year, the companies in this joint venture may have already put up at least six pickup points and charge just ₩19,000 per delivery to the station. This surely offers big savings to customers as the normal minimum delivery fee is around ₩59,000 or $49.70.
