Socar Launches B2B Car-Sharing Solution for Corporate Fleets

Seoul, South Korea - Socar (KRX: 403550) is entering the B2B car-sharing market with its new solution, Socar FMS.

With the new solution, the company is targeting the country's 3.44 million corporate-owned vehicles with the launch of its B2B car-sharing solution, Socar FMS. 

The service allows companies to manage and use corporate-owned vehicles through an IoT, cloud-based fleet management system.

According to Socar's CEO, the solution allows companies to book and use their vehicles via smartphone, similar to Socar's existing car-sharing service.

The vehicles are equipped with dedicated terminals that transmit real-time data on the vehicle's status, location, and driving habits to a control system.

Socar FMS aims to reduce costs and improve operational efficiency for companies by streamlining processes such as reservations, key management, and trip logs. 

The service also offers features to detect vehicle misuse and fraudulent fueling and the ability to use Socar vehicles when company vehicles are unavailable.

Socar offers a free three-month trial for up to 20 vehicles to encourage adoption, allowing companies to verify the cost savings and management effectiveness of the newly launched service.

Socar has conducted demonstration projects with several domestic and international companies to evaluate the benefits of its solution. 

The company says its service can significantly reduce variable costs and improve operating profits.

The company has already conducted demonstration projects with various domestic and overseas companies to validate the benefits of its solution.

Socar aims to leverage its 13 years of experience managing more than 20,000 car-sharing vehicles to capture a significant share of the corporate fleet management market and help shape the future of enterprise mobility.