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Tada Struggles to Go Beyond Legal Gray Area in S. Korean Taxi Market

Tada Struggles to Go Beyond Legal Gray Area in S. Korean Taxi Market

SEOUL, Jun. 27 (Korea Bizwire) — Doing business in a legal gray area needs a lot of guts and an elaborate scheme, and that is especially so in South Korea’s tightly regulated taxi industry, which sets high barriers for mobility startups seeking to enter the market without taxi licenses. The latest major challenger is Tada [...]

Car Sharing Service Socar Gets 60 Billion Won Boost from Private Equity

Car Sharing Service Socar Gets 60 Billion Won Boost from Private Equity

SEOUL, April 4 (Korea Bizwire) — Private equity firm IMM PE will fuel Socar’s expansion with a 60 billion won investment, South Korea’s leading car sharing service announced yesterday.  Sources with knowledge of the deal say IMM PE is betting on Socar’s potential for continued growth as well as its finding success in the future [...]

SK Holdings, SoCar Launch Car-sharing Business in Malaysia

SK Holdings, SoCar Launch Car-sharing Business in Malaysia

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 [...]

S. Korean Car Sharing Startup Taps Malaysia

S. Korean Car Sharing Startup Taps Malaysia

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 [...]

Socar First to Reach 10 Million Reservations in South Korean Car Sharing Industry

Socar First to Reach 10 Million Reservations in South Korean Car Sharing Industry

SEOUL, Jul. 27 (Korea Bizwire) — South Korean car sharing service provider Socar has become the first company to reach a total of 10 million reservations in the industry, according to a statement released on Wednesday. From February 2012 until earlier this month, more than 10 million reservations were made, with the combined mileage estimated to [...]