SEOUL, Jan. 26 (Korea Bizwire) — SK Holdings, the holding firm of South Korean energy and telecom conglomerate SK Group, said Thursday it has launched a car-sharing business in Malaysia by joining hands with South Korea’s No. 1 car-sharing startup SoCar.
SoCar Malaysia — a joint venture between SK Holdings and SoCar — kicked off its business in Kuala Lumpur on Tuesday in SoCar’s first overseas expansion, according to SK Holdings
SoCar Malaysia has established about 100 zones with 240 automobiles in Malaysia, making it the largest car-sharing operator in the Southeast Asian country.
Malaysia has a high growth potential for the car-sharing industry as it is densely populated in the city centers, SK Holdings said, adding it will accelerate the push to expand its presence in the Southeast Asian market.
Launched in 2012, SoCar currently has 8,200 cars in 3,200 zones throughout South Korea, with more than 3.4 million members.