Search results for Socar Plan
Mobility
Why Socar brought in Tesla: Seed for subscription business
Socar is rapidly expanding its subscription business by offering Tesla Model X and Model S vehicles equipped with supervised Full Self-Driving (FSD). The two models drew about 2,000 pre-bookings within 10 days despite prices of 1.49 million won a week and 3.99 million won a month. The service targets demand in the 1 to 3-week gap between short-term car sharing and monthly long-term rentals, using an auto-renewal structure and positioning FSD vehicles as a top-of-funnel offering.
Telecommunications & Media
Mobility platforms return to profitability amid intensifying margin battle
South Korea’s three mobility platforms improved profitability last year, led by Socar’s operating profit of 23.2 billion won and TMAP Mobility’s first annual net profit of 23.3 billion won. Kakao Mobility also raised profitability by close to 20 percent. The companies cut or reshuffled non-core operations and expanded data- and AI-based revenue models. Each is now focusing on core strengths, including car sharing, data expansion and physical AI and autonomous driving.
Mobility
Socar posts 13.2 billion won Q4 operating profit, up 345 percent year on year
Socar said on Tuesday it recorded fourth-quarter revenue of 128.7 billion won and operating profit of 13.2 billion won, with revenue up 5.1 percent from a year earlier and profit more than quadrupling. On a consolidated basis, it posted full-year revenue of 470.7 billion won and operating profit of 23.2 billion won, swinging to profit from an operating loss. It plans to strengthen car-sharing operations and apply AI across internal processes and customer touchpoints.