Socar Partners with Naver for AI Car Sharing Service

Seoul, South Korea - Socar (KRX: 403550) has partnered with Naver (KRX: 035420) to use Naver's HYPERCLOVAX artificial intelligence (AI) system for a new chat-based car-sharing recommendation service.

Why It Matters: 

The partnership between mobility platform Socar and tech giant Naver signals a significant shift toward AI-powered innovation in the mobility sector. 

Their new car-sharing recommendation chatbot aims to transform and personalize the transportation experience for users in South Korea.

The Key Points

• Socar is leveraging Naver's HYPERCLOVAX, the world's largest AI language model, for the new service. This results from a memorandum of understanding between the two companies, signed in July 2022.
• Socar will feed more than 12 years of operational data on managing more than 20,000 vehicles in South Korea into HYPERCLOVAX to provide accurate recommendations.
• Through a conversation with Naver's ClovaX chatbot, users will share trip details and receive customized suggestions on vehicle type, price, and Socar locations, and can book instantly.
• The collaboration marks the first time an API for car-sharing recommendations has been opened outside of a company's app.

What they say: 

"In addition to Naver, we are pursuing third-party collaborations to expand Socar's services beyond our app," said Jaeuk Park, CEO of Socar.

What's next: 

Socar expects the integration to increase monthly active users, new bookings, and revenue. 

As AI transforms mobility, more partnerships between innovators like Socar and Naver could define the future of transportation in South Korea and around the world.

More Articles on “Socar” by The Pickool

• Socar Q2 2023: 14.1% Revenue Growth, New Services
• Naver and Socar Form AI-Centric Mobility Partnership
• Lotte Rental Buys 17.91% Stake in Socar
• Socar Joins Hands with Budget Car Rental for Global Bookings