SoCar, a car-sharing startup in South Korea is making its first move outside of the country by expanding into Malaysia. Currently, SoCar has more than 6,000 registered cars and 3 million users.
The app allows car owners to share their vehicles where users looking for transportation can rent the cars by the hour. Petrol and insurance coverage is included.
Considered one of the largest car-sharing companies in South Korea by Yonhap News Agency, SoCar plans to establish 120 zones with 240 vehicles in Malaysia's capital of Kuala Lumpur. This expanded service in Southeast Asia will begin within the next 24 months.
Set up in 2011, SoCar is licensed by Malaysia's Ministry of Tourism and Culture and is advertising for numerous positions in the country. This includes experienced executives and web developers.
The company the joint venture with SK Corp in Malaysia last May. It took a 20% stake in the car-sharing firm back in 2015 according to The Korea Herald. South Korea's rental car service unit, SK Networks signed a maintenance agreement for vehicles with SoCar last February.