Kakao challenges smart mobility industry with new subsidiary

By Park Sae-jin Posted : August 1, 2017, 18:06 Updated : August 1, 2017, 18:06

[Kakao Mobility]



South Korea's web service giant Kakao challenged the smart mobility industry by launching a new subsidiary that would use its call taxi app to expand joint businesses with taxi companies.

The smart mobility industry is formed by businesses and platforms using smartphone applications for car sharing, taxi hailing and information sharing in designated areas. The sizes of areas vary from a small district to a whole city. In South Korea, Kakao is leading the industry with its taxi-hailing app "Kakao Taxi".

"We will show sustainable, innovative growth as a smart mobility business that represents South Korea in the international market like Uber and Grab," Kakao Mobility said in an inaugural statement.

In the third quarter of this year, the smart mobility company plans to combine the taxi hailing service for corporate business with Kakao's digital wallet, Kakao Pay, to provide an automatic payment system. A parking lot searching service called "Kakao Parking" will be released later to help users locate nearby parking lots.
 
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