Kakao, the South Korean super app, is continuing to make headlines… After very advanced discussions with FREENOW, the South Korean platform is continuing its global conquest. It is preparing to cross new borders by extending its ride-hailing service to five new countries. This expansion marks a significant step in Kakao Mobility’s global strategy. It confirms the company’s ambition to become a major player in international mobility. Find out more about this announcement in this exclusive article
Rapid expansion
From next week, Kakao T will be entering five new countries, taking its network to 37 destinations. These include Australia, Taiwan, the United Arab Emirates, Jordan and Kuwait. From Thursday, these countries will have access to Kakao T’s ride-hailing, which was originally developed in Korea. But Kakao Mobility’s aggressive roll-out doesn’t stop there…
From next month, the Korean company plans to expand its footprint in the United States. To do so, it intends to forge closer ties with local mobility giant Lyft. An alliance designed to strengthen Kakao T’s presence in the American market, renowned for its complex mobility dynamics. There’s no doubt that the world of mobility is about to undergo a major transformation with Kakao Mobility at the helm… However, the super app must remain vigilant to avoid any incidents impacting its users… A situation already encountered last year.
A well-honed strategy
With over 90% of the Korean ride-hailing market under its belt, Kakao Mobility began its international expansion in 2018 in Japan. Since then, the company has extended its influence by forming local partnerships and investing in dedicated infrastructure. This strategy has opened Kakao T’s doors to foreigners in Korea, consolidating its local position. As part of its new strategy, Kakao T’s taxi fares will be adjusted according to the specific characteristics of each country. To achieve this, it has teamed up with local mobility companies such as Silver Top (Australia), Yoxi (Taiwan) and Careem (Dubai) to launch its services abroad. This is a carefully thought-out approach designed to meet the unique needs of each market.
We will leapfrog to become a truly global mobility service by creating and growing various global business portfolios, including on-demand transport service abroad.
RYU GUNG-SEON, PDG DE KAKAO MOBILITY
