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S. Korean car-sharing service Socar ventures into Malaysia

Collected: 2018.01.04

Distributed: 2018.01.08

Source: Go Direct

South Korea’s largest car-sharing service provider Socar has made an inroad into Malaysia, where the car rental and sharing markets are still in the fledgling stages, in hopes that the Southeast Asian country would provide a gateway to other regional and European markets.

Socar announced on Wednesday that it will build about 120 parking bays and provide 240 vehicles in Malaysia to start what would be the biggest car-sharing service in the country.

The Korean car-sharing company is confident about success of its business in Malaysia citing the great growth potential in the Southeast Asian country’s car rental and sharing markets that have not matured yet. Also the country’s downtown areas of dense population are expected to make it easier for the company to gain ground in the Southeast Asian country.

Starting from Malaysia, Socar plans to expand its business to other overseas markets, said an official at the company.

According to the company, people can use Socar service in Malaysia after downloading its Malaysian app and signing up. The membership fee has to be paid unlike in Korea, and the rental fee includes cost for fuel that will cover up to 15 kilometers per hour. Various vehicles ranging from compact cars to large-sized luxury cars will be offered, and the company would add more outlets and vehicles depending on local demand.

By Kang Young-woon and Lee Ha-yeon

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