Mybi Signs Agreement with Busan Bus Association to Establish Smart Mobility System
by Jo Chunghyeon
Published 15 Jul.2024 17:21(KST)
Updated 03 Aug.2025 14:11(KST)
First Introduction of Transferable Shared Bicycles on City Buses in Korea
Busan Citizens and Tourists Expected to Benefit from Improved Mobility
Busan City Bus Transportation Association (Chairman Sung Hyundo) and Busan’s transportation card operator Mybi Co., Ltd. (CEO Son Minsu) announced on the 15th that they have recently signed a mutual cooperation agreement to jointly promote the ‘Busan Smart Mobility Project’.
This initiative aims to establish a transfer system between city buses and PM (Personal Mobility), enabling reservations, payments, and transfers for both public transportation and tourism infrastructure within a single platform.
To achieve this, they plan to introduce shared bicycles that can be transferred with city buses for the first time in Korea within this year. These will be strategically deployed in areas that require connections to public transportation, such as university districts and the Osiria Tourism Complex, to alleviate mobility inconveniences for Busan citizens and tourists.
In addition, for mobility operators such as PM who wish to integrate with public transportation transfers, IoT terminals, technical support, and operational know-how will be provided. For Busan citizens and tourists, the platform will offer not only payment and transfer processing but also convenient reservation and payment services for tourism infrastructure such as restaurants and accommodations.
The transaction data collected through the smart mobility platform will be used as big data for Busan City’s transportation and tourism policy-making. AI functions will also be included to help participating companies utilize this data for product development and service improvement.
Sung Hyundo, Chairman of the Busan City Bus Transportation Association, expressed his expectations, saying, “Transfers between PM and city buses will not only improve accessibility to public transportation but also serve as an opportunity to expand MasS services, allowing users to travel the shortest first and last mile distances at minimal cost.”
Son Minsu, CEO of Mybi, stated, “As a local transportation card company in Busan, Mybi plans to collaborate with the Busan Bus Association to integrate and apply various new technologies for citizen mobility, such as shared bicycles, tag-ride, and tagless systems. We will continue to invest in the mobility sector so that Busan citizens can enjoy world-class public transportation services.”
A Mybi official added, “While most smart mobility projects in Korea have been led by local governments or the state, the Busan Smart Mobility Project is being promoted as a private initiative led by the Busan Bus Association, which represents bus operators, and Mybi, the transportation card operator. This is expected to not only reduce costs but also accelerate project implementation.”
The official continued, “Busan, which led the advancement of public transportation by introducing the nation’s first transfer-enabled transportation card system between buses and subways in 1997, is expected to take a leap forward as a world-leading smart mobility innovation city through this mutual cooperation agreement between the Busan Bus Association and Mybi.”
Mybi is signing a win-win agreement with the Bus Union of Busan to establish smart mobility.
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