Seoul, South Korea - Kakao Mobility has announced the expansion of its vehicle-hailing service, Kakao T Global, starting on 30th November.
This expansion targets new geographical regions, including Australia, Taiwan, and the Middle East, and signifies the company's growing presence in the global market.
Why It Matters:
- The expansion of Kakao T Global is significant in the context of the increasing competition and demand in the global mobility platform sector.
- This move reflects the company's strategy to diversify its market presence and cater to a broader international audience.
- The entry into the United States, a key market in the mobility sector, is a critical step in Kakao Mobility's global strategy.
The Key Points:
- New Market Launches: Kakao T Global service will begin in Australia, Taiwan, the United Arab Emirates, Jordan, and Kuwait from 30th November.
- U.S. Market Entry: The service is slated to launch in the United States in December.
- Local Service Integration: The expansion includes integrating local mobility services in new markets and offering diverse vehicle options.
- Service Accessibility: Users can access the service through the Kakao T app, with pricing varying based on local fare structures.
What They Say:
- Alex Ryu, CEO of Kakao Mobility: Emphasized the company's commitment to enhancing global mobility and evolving as a comprehensive international service provider.
- Partnership with Lyft: Announced at the NEMO 2023 conference, the collaboration is a strategic move to launch services in the U.S. market.
- Expansion Reach: By the end of the year, Kakao T Global aims to extend its services to 37 countries globally, including the United States.
- Strategic Global Ventures: The company is actively establishing direct international ventures and offering services to foreign tourists in Korea through app integrations.
This expansion represents a significant phase in Kakao Mobility's business strategy, building on its initial services launched in Japan in 2018.