SEOUL, Oct. 5 (Korea Bizwire) — South Korean mobility platform Socar said Sunday that membership for its vehicle delivery service, “Handler,” surpassed 200,000 in May, doubling in just two years as flexible, gig-based work gains traction among younger drivers. According to Socar, Handler’s total membership climbed from 100,000 in May 2023 to 130,000 in 2024, [...]
SEOUL, July 25 (Korea Bizwire) – In a landmark decision, South Korea’s Supreme Court has ruled that drivers for the ride-hailing service Tada should be considered employees under labor law, potentially reshaping the gig economy landscape in the country. The court’s ruling, announced on July 25, applied traditional employment criteria to determine the status of workers [...]
SEOUL, July 26 (Korea Bizwire) — South Korea’s top portal operator Naver Corp. said Tuesday it has signed a memorandum of understanding (MOU) with car-sharing and mobility service provider SOCAR Inc. to foster mutual cooperation for mobility service innovation using its hyperscale artificial intelligence (AI) platform, HyperCLOVA X. According to the terms of the MOU, [...]
SEOUL, April 11 (Korea Bizwire) – South Korea’s largest car-sharing and mobility service provider SOCAR Inc. said Monday that the use of its Commuter Pass subscriptions, designed for office workers, grew robustly by about 50 percent from November last year to March of this year. The Commuter Pass is a program that provides users with access to SOCAR [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s largest car-sharing platform operator, SOCAR Inc., fell far below its initial public offering (IPO) price on its first day of trading in the face of unfavorable market conditions. SOCAR closed at 26,300 won (US$19.56) won on the main bourse, down 6.07 percent from the 28,000 won opening [...]
SEOUL, Aug. 3 (Korea Bizwire) — South Korea’s largest car-sharing and mobility service provider SOCAR Inc. on Wednesday said that its planned initial public offering (IPO) will be successful despite unfavorable market conditions. SOCAR, established in 2011, is seeking to make a market debut later this month after going through IPO subscription Thursday and Friday [...]
SEOUL, Feb. 8 (Korea Bizwire) — Hyundai Glovis, the logistics unit of Hyundai Motor Group, announced that it had signed a memorandum of understanding (MOU) to establish a new business alliance with car-sharing company SoCar with a focus on developing future logistics technologies. With a fleet of about 18,000 vehicles, SoCar has been applying innovative [...]
SEOUL, Dec. 9 (Korea Bizwire) — SoCar, a South Korean car-sharing company, said Thursday it aims to launch an integrated mobility services that connects all transit options in one app next year. The envisioned “super app” will allow users to find multiple modes of transit, such as car-sharing, buses, trains, and electric bikes, to reach [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s largest mobility startup SOCAR Inc. said Friday it has received 60 billion won (US$52.2 million) from two local private equity firms, becoming the latest “unicorn” company in the Asian country. The investments from SG Private Equity and Songhyun Investment pushed SOCAR’s valuation to over 1 trillion won. [...]
SEOUL, May 18 (Korea Bizwire) — South Korea’s leading car-sharing app operator SoCar has teamed up with a local vehicle tech startup to launch an autonomous car shuttle service on the resort island of Jeju, the company said Monday. The collaboration with RideFlux Inc., which officially began earlier in the day, marks the first time [...]