Socar Secures 60 Billion KRW Investment... First Mobility Company to Become a 'Unicorn'

[Asia Economy Reporter Buaeri] Car-sharing mobility company Socar has become a unicorn company with a valuation exceeding 1 trillion KRW after securing an investment of 60 billion KRW. It is the first among domestic mobility companies.

Socar announced on the 16th, "We have secured a total investment of 60 billion KRW from SG PE and Songhyun Investment, and have been recognized as a unicorn company (a private company valued at over 1 trillion KRW)."

Socar expects this investment to serve as an opportunity to innovate the domestic mobility market through various services based on artificial intelligence (AI) and big data technologies.

Socar plans to use the secured investment funds for developing various services and technologies that allow users to use mobility services more conveniently and safely, as well as for talent acquisition.

Socar has surpassed 6 million members by strengthening subscription products such as 'Socar Pass' and corporate-targeted 'Socar Business.' Socar's subsidiary VCNC is seeking new avenues following the discontinuation of 'Tada Basic.' VCNC plans to officially launch new services within the year, including the franchise taxi 'Tada Light' and the designated driver brokerage business 'Tada Daeri.'

Jaeuk Park, CEO of Socar, stated, "Through this investment, we have been recognized for the sustainable growth of Socar's car-sharing business, expectations for new mobility services, and capabilities that led growth despite COVID-19." He added, "We will spare no effort to secure technology for strengthening competitiveness, advance services, and acquire talent."

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