Kakao Mobility Goes Global... Ryu Geung-seon "Will Share Meaningful News Within Q3"

On the 7th, Ryu Geung-seon, CEO of Kakao Mobility, is holding an online press conference.

[Asia Economy Reporter Seungjin Lee] Kakao Mobility has decided to invest 50 billion KRW over five years to create a sustainable co-growth plan where all participants in the mobility ecosystem?suppliers, industry, and users?can 'win-win.'

Additionally, this year will be marked as the inaugural year for 'global' expansion, with plans to materialize global expansion strategies within the third quarter.

50 Billion KRW Support for Win-Win Innovation

On the 7th, at the KakaoT 7th anniversary press conference, Kakao Mobility CEO Ryu Geung-seon announced that out of the 300 billion KRW co-growth fund promoted by the Kakao Group, Kakao Mobility will allocate 50 billion KRW.

Kakao Mobility will seek co-growth plans with the existing industry through ▲increasing supplier revenue within the platform (37 billion KRW) ▲improving supplier treatment on the platform (8 billion KRW) ▲reducing cost burdens for small and medium-sized businesses (5 billion KRW).

Furthermore, in cooperation with Kakao and the Kakao Impact Foundation, additional funds will be raised to be used for ▲improving mobility rights for the mobility-impaired ▲strengthening the safety net for mobility workers in welfare blind spots, such as emergency living expenses and child tuition support.

CEO Ryu stated, "This amount may seem insufficient, but from the company's perspective, it is a significant sum, having achieved a profit of 10 billion KRW for the first time last year after five years of spin-off," adding, "Through community cooperation, we plan to additionally secure about 50 billion KRW to be used mainly for the mobility-impaired."

In particular, CEO Ryu emphasized 'win-win innovation' as the guiding principle. While many global companies have increased market share through 'disruptive innovation,' Kakao Mobility aims to pursue 'win-win innovation.' In 2019, Kakao Mobility reached a 'social grand compromise' with four taxi organizations and has since continued technological innovation within the institutional framework of platform taxis.

On the 4th, it also became the first in the domestic mobility industry to disclose the detailed operating principles of the taxi 'AI dispatch system.' CEO Ryu said, "Over the past seven years, we have built a unique mobility growth model through 'win-win innovation,'" and added, "Going forward, we will cooperate with the Kakao community to establish a co-growth fund to help the entire mobility ecosystem grow together."

Exploring Global Market Opportunities in Earnest... Concrete Plans to Materialize Within Q3

Kakao Mobility has designated this year as the 'first year of global expansion' and will actively explore opportunities in the global market.

The company plans to fully resume its global market expansion, which was temporarily halted due to COVID-19, starting next month when the government's 'International Flight Gradual Normalization Plan' is implemented. Specific plans will be materialized within the third quarter.

Kakao Mobility intends to enable overseas travelers to easily use local mobility services in over 120 countries worldwide with just the Kakao T app.

They are also exploring solutions to link overseas support services of major global mobility companies for foreign visitors.

To enter overseas markets with high visitation rates of Korean tourists, Kakao Mobility plans to collaborate with local mobility companies and actively invest in overseas markets to accelerate global expansion.

Meanwhile, Kakao Taxi was first introduced in March 2015 through Kakao's Exploration Life TF and rebranded as 'Kakao T' when Kakao Mobility officially launched in 2017. Since its establishment in 2017, Kakao Mobility has facilitated over 10.7 billion rides with users, covering a travel distance equivalent to 2.75 million trips around the Earth, totaling 110 billion kilometers.

CEO Ryu emphasized, "At the same time, we will continue investing in future mobility and accelerate overseas expansion to become a leading global mobility platform."

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