Jin-woo Song, General Manager of Uber Taxi Korea, delivers a presentation at the Uber Taxi Connect Day event held at The Plaza Hotel in Jung-gu, Seoul, on February 20, 2025. (Image provided by Uber Taxi)
SEOUL, Feb. 20 (Korea Bizwire) — Uber has introduced its corporate mobility service, Uber for Business (U4B), in South Korea, aiming to enhance business travel efficiency with seamless expense management and ride-hailing solutions.
At the ‘Uber Taxi Connect Day’ event in Seoul on February 20, Uber outlined its business strategy for the year, including the launch of U4B. The global B2B service is designed for corporate travelers, offering ride-hailing, meal delivery, and expense tracking through the Uber app’s extensive network worldwide.
Uber emphasized that over half of Fortune 500 companies, including Coca-Cola and Samsung, already utilize U4B, with 84% of participating firms reporting cost savings on travel expenses.
Beyond U4B, Uber plans to introduce additional services in South Korea this year, including ‘Premier Van’ for group travel, leisure and tourism-focused options, and a family-sharing feature. According to Uber Taxi Korea’s General Manager Jin-woo Song, the van service is expected to launch within the first half of the year with pricing aligned with competitors.
Uber’s priorities for 2025 include increasing user adoption through improved dispatch success rates, expanding its taxi driver network, and introducing new services tailored to local consumer needs. Since its rebranding from UT in March 2024, Uber Taxi has been actively rolling out promotions and new services to compete with local players like Kakao T and Tada.
Song highlighted that Uber Taxi achieved significant growth last year, with its fleet of drivers doubling and ride bookings increasing by over 50%. He credited this success to a virtuous cycle of more drivers leading to higher dispatch success rates and an increase in foreign users.
“This year, we aim to accelerate market share expansion by growing our service areas and diversifying our offerings,” Song said.
Regarding reports of Uber partnering with Naver Maps for taxi-hailing integration, Song clarified that no specific agreements have been reached but noted that Uber is open to collaboration with major corporations, platform companies, and financial firms.
Addressing regulatory challenges faced by competitors, Song stated, “We are monitoring the market as an industry player but do not anticipate any direct benefits from these developments.”
Uber’s priorities for 2025 include increasing user adoption through improved dispatch success rates, expanding its taxi driver network, and introducing new services tailored to local consumer needs. (Image courtesy of Uber Taxi)
Meanwhile, in December 2024, Uber announced plans to acquire the remaining stake in UT from SK Square’s subsidiary, Tmap Mobility. UT was initially established in April 2021 as a joint venture between Uber and Tmap Mobility, with Uber holding a 51% stake and Tmap 49%.
When asked about SK Square’s decision to exit the taxi business, Song refrained from speculation, stating, “As a professional executive appointed by major shareholders, I am not in a position to comment on investor decisions,” but suggested it was part of SK Group’s broader business strategy.
“South Korea is a key market for Uber, with a high percentage of ride-hailing occurring through mobile apps,” Song emphasized, reinforcing the company’s commitment to expanding its presence in the country.
Ashley Song (ashley@koreabizwire.com)
