Korea Joongang Daily
Korea JoongAng Daily

Regulator greenlights Lotte Rental's additional stake purchase in SoCar

The antitrust regulator said Wednesday it has approved Lotte Rental's acquisition of an additional 19.7 percent stake in car-sharing startup SoCar.

2024-01-31

SK Inc. sells entire stake in Socar to Lotte Rental

SK Inc. is selling its entire stake in the car-sharing platform Socar to Lotte Rental at 146.2 billion won ($110.5 million).

2023-08-31

The Swing to acquire controlling stake in Tada operator

The Swing, an e-scooter sharing service operator, will acquire a controlling stake in van-hailing service Tada's operator, as it develops itself into a comprehensive mobility company. The Swing will buy a 60 percent stake in VCNC from fintech firm...

2023-07-18

Ex-Socar CEO says lawmaker to blame for Tada collapse

The former CEO of Socar, once a leading car rental start-up, blamed a lawmaker from the main opposition party for drafting a bill that led to the collapse of the start-up's van-hailing service Tada. Lee Jae-woong criticized the Democratic Party...

2023-06-13

Ringing alarm on moves against innovation (KOR)

The government and politicians must never repeat the sin of killing a service of consumers’ choice out of their ill judgment.

2023-06-05

Ringing alarm on moves against innovation

The government and politicians must never repeat the sin of killing a service of consumers’ choice out of their ill judgment.

2023-06-04

Car-sharing services pounce on rising fares

Amid rising public transportation fares and soaring interest rates for new car purchases, the car-sharing industry is trying to give people something to smile about with some timely promotions.

2023-02-06

High-flying world of start-ups sees turbulence, crashes

Start-ups, which Korea hoped would show the way to a prosperous future, are in a slump. Direct investments by venture capital firms and so-called angel investors are down, and so are IPOs.

2022-10-08

Socar bombs in IPO with shares falling below IPO price

Socar finished its first day of trading lower than its subscription price and fell short of a 1-trillion-won ($743-million) market capitalization.

2022-08-22

Socar going public on Aug. 22 at a lower-than-hoped-for price

Socar will go public on Aug. 22 at a price lower than hoped for due to weaker-than-expected demand from institutions. The company will sell 3.64 million shares at 28,000 won ($21) a share, 17 percent cheaper than the lower end of the ...

2022-08-10