Reflection AI Eyes $25 Billion Valuation in Massive $2.5 Billion Funding Round 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
Valero Port Arthur Refinery Explosion Prompts $1M Lawsuit Over Worker Safety Negligence 
Sonova Shares Slip as Hearing Aid Giant Lowers Growth Outlook and Plans Sennheiser Exit 
Henkel in Advanced Talks to Acquire Olaplex at $2 Per Share 
OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership 
Air Canada Express Crash at LaGuardia: Controller Distracted by Prior Emergency 
Unilever and Magnum Face Defamation Lawsuit Over Ben & Jerry's Board Chair Dismissal 
SK Hynix Eyes Up to $14 Billion U.S. IPO to Fund AI Chip Expansion 
Delivery Hero Sells Taiwan Foodpanda to Grab for $600 Million in Debt-Reduction Push 
Lynas Rare Earths Signs Vietnam Deal with LS Eco Energy to Boost Magnet Metal Production 
NAB Plans to Cut 170 Jobs While Expanding Offshore Operations 
Meta Ties Executive Pay to Aggressive Stock Price Targets in Major Retention Push 
SpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 Billion 
9 Tips for Avoiding Tax Season Cyber Scams 
CK Hutchison's Panama Ports Dispute Escalates as Arbitration Claims Surpass $2 Billion 
Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling 
Kakao Mobility Corp. Ltd. is a South Korean firm that provides online taxi-hailing and parking services. It announced today that it is expanding its ride-hailing service overseas and looking to make its Kakao T app available in 37 countries including Europe, the United States, the Middle East, and Asian regions.
But for starters, Kakao Mobility is activating its Kakao T app for ride-hailing in five nations next week. The first few countries that will allow the use of the app are Australia, Taiwan, Kuwait, United Arab Emirates, and Jordan. Yonhap News Agency reported that the company is planning to introduce the service in the U.S. next month via a partnership with Lyft, a local mobility service.
Kakao Mobility chief executive officer, Ryu Gung Seon, commented on the plan saying, "We will make a jump to become a true global mobility service by creating and advancing various global business portfolios, including the overseas ride-hailing service."
Overseas Launch of Kakao T App
As per Korea Joongang Daily, starting Thursday next week, the ride-hailing service of Kakao Mobility will be accessible to users in the mentioned five countries via its own Kakao T app. Local residents will be able to request and place an order for rides in any type of vehicle they prefer. The available units will range from taxis to premium cars and mid-size sports utility vehicles (SUVs).
"The expanded overseas ride-hailing service has allowed Kakao T to support users' mobility seamlessly outside Korea," CEO Ryu said, "Beyond ride-hailing service, Kakao Mobility will make more examples of global advancement and enhance the service to become a global mobility service provider."
Partnerships to Make the Service Work Outside of Korea
For Kakao T to work overseas, Kakao Mobility tapped local mobility services in each country for a tie-up. The collaboration links the ride-hailing service of local firms to the Kakao T app and this makes it possible to call taxis using the Korean app.
Business Post reported that in the U.S., Kakao Mobility teamed up with Lyft while in Australia, it has signed a deal with SilverTop Taxi. In Taiwan, it has partnered with Yoxi and lastly, in the United Arab Emirates (UAE), Jordan, and Kuwait, Kakao Mobility collaborated with Careem.
Photo by: Kakao T Website
