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Kakao Takes Ride-Hailing Global, Entering 5 New Markets

Source: Kakaomobility

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.

The Next:

  • 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.