'10th Anniversary' Socar CEO Park Jae-wook "Market Innovation through Streaming Mobility"

Introducing a 'Super App' Covering Car Sharing, Electric Bicycles, Railways, and Accommodation

[Asia Economy Reporter Buaeri] Park Jae-wook, CEO of Socar, announced on the occasion of the company's 10th anniversary that "we will innovate the market with streaming mobility." Streaming mobility refers to a mobility service provided anytime and anywhere according to the user's needs and preferences without owning a car.

At the media day event held on the 9th, CEO Park revealed a strategy to lead the market through mobility technologies such as mobility data analysis, vehicle control, and management using artificial intelligence (AI).

Socar, a car-sharing service, started in 2011 with 100 vehicles in Jeju Island and has expanded its fleet to 18,000 vehicles this year. The number of users increased from 30 to 7 million. Last year, it became the first mobility company to achieve unicorn status (a startup valued at over 1 trillion KRW).

Socar plans to launch a ‘super app’ next year that allows users to book car-sharing, electric bicycles, and rail services all within one application. Additionally, it aims to expand services linked to parking, accommodation reservations, and more, enabling users to access necessary services before and after travel.

It will also expand one-way mobility services where users can pick up a vehicle at their desired location and return it at their destination, similar to taxis. Socar expects that the one-way service will serve as a core foundation for accumulating technology and know-how to manage and operate tens of thousands of vehicles in preparation for the autonomous driving era, as well as securing vast mobility data in advance.

Development of mobility-linked payment services allowing users to order food delivery and shopping while inside the vehicle is also underway. The number of vehicles operated is planned to increase to up to 50,000 by 2027.

Jaewook Park, CEO of Socar

CEO Park emphasized, "The keywords for the future mobility market are electric vehicles and autonomous driving, so as related technologies advance, mobility platform companies providing mobility services will take the lead in the market," adding, "We will provide services that allow anyone to conveniently move whenever mobility is needed."

This content was produced with the assistance of AI translation services.