SEOUL, Feb. 19 (Korea Bizwire) — A Seoul court ruled in favor of the ride-hailing service Tada as a legitimate rental car service Wednesday, in a landmark decision that will likely support the mobility platform industry. The Seoul Central District Court acquitted Lee Jae-woong, car-sharing app operator SoCar, and Park Jae-uk, head of SoCar’s subsidiary [...]
SEOUL, Nov. 13 (Korea Bizwire) — The South Korean car-sharing app SoCar said Wednesday it has kicked off its “pairing service,” which connects long-term renters and those who want to temporarily use preferred vehicles. In the SoCar pairing service, a long-term renter of a SoCar premium vehicle can share the car with a so-called guest [...]
SEOUL, Sept. 17 (Korea Bizwire) — The South Korean car-sharing app SoCar said Tuesday it has added Tesla Motors Inc.’s Model 3 to its vehicle lineup to better serve customers. SoCar will introduce the all-electric Model 3 as a vehicle for its car-sharing services in October, the company said in a statement. SoCar currently offers [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, June 16 (Korea Bizwire) – South Korean carsharing provider Socar’s number of vehicles has exceeded 7,000 for the first time in the industry, the company said yesterday. When Socar launched its service in 2012, the company only had 100 vehicles. From then, the number increased to 400 in 2013, then 1,800 in 2014. After [...]
SEOUL, March 11 (Korea Bizwire) – Chey Tae-won, chairman of SK Group, was spotted in the parking lot of SK Group’s headquarters riding a Socar vehicle. According to SK Group, Chey appeared in the parking lot of the headquarters building with Socar officials. After riding a Kia Ray for 10 minutes, attracting some attention, he [...]