Uber Plans Further Expansion In South Korea

Ride-share giant, Uber, is reportedly planning to further expand in the South Korean market after a recent growth in performance and consumer demand in the country. At present, South Korea’s leader in ride-sharing is Kakao Mobility, with almost 98% market share. Kakao Mobility has almost 23 million users in the country.

Uber aims to directly challenge Kakao Mobility and up its market share in the country. Uber initially launched in South Korea almost 10 years ago, but only a few years after its launch, it was banned due to complaints from local taxi drivers losing business. Later sometime in 2020, it then formed a joint-venture with a local entity, TMAP Mobility, called UT, which was later renamed Uber Taxi and is in operation in the country currently.