Samchully Bicycle invests 4 billion KRW in 'Kickgoing'... Launching shared mobility business

[Asia Economy Reporter Lee Junhyung] Samchuly Bicycle announced on the 18th that it will invest 4 billion KRW in Ollulo, the operator of the shared kickboard service 'Kickgoing'.

Ollulo is a startup operating the electric kickboard sharing service Kickgoing. It launched the first shared kickboard service in Korea in 2018. It has over 1.5 million subscribers. The corporate-only service 'Kickgoing Business' recently surpassed 400 member companies. It is evaluated as playing a leading role in the domestic shared kickboard market.

Samchuly Bicycle is expanding its business area from bicycles to personal mobility (PM) by launching electric bicycles, electric kickboards, and electric scooters. The company plans to actively expand its shared mobility business starting with this investment. Ollulo will introduce an electric bicycle sharing service. It plans to supply electric bicycles in connection with about 1,200 Samchuly Bicycle dealerships nationwide.

The company expects its position in the personal mobility market to be strengthened through this investment. The synergy effect is anticipated between Samchuly Bicycle's technological capabilities and Kickgoing's service expertise. The electric bicycle sharing service that Ollulo is preparing to launch is a representative example. Ollulo plans to supply electric bicycles in connection with about 1,200 Samchuly Bicycle dealerships nationwide.

A Samchuly Bicycle official said, "Since COVID-19, the personal mobility market has grown and the sharing economy has been revitalized," adding, "With this investment, we will provide differentiated shared mobility services to simultaneously lead the bicycle industry and the mobility market."

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