SEOUL, Jan. 3 (Korea Bizwire) — South Korean car-sharing startup SoCar said Wednesday it will launch its business in Malaysia this month in its first overseas expansion.
SoCar, a leading player in the country’s car-sharing industry, is planning to establish 120 zones with 240 automobiles in the Southeast Asian country, it said.
Members who sign up for the service can preview the cars available and the associated outlets through online devices. Unlike regular services that rent a car by the day, the car-sharing service rents cars by the hour, with insurance coverage included.
Malaysia has a high growth potential for the new industry as it is densely populated in the city centers, the company said, adding it will accelerate the push to expand its presence in the Southeast Asian market.
Launched in 2012, the company currently has 8,200 cars in 3,200 SoCar zones throughout South Korea, with more than 3.4 million members.