Socar, Inc.
KKRX:40355010,210.00
KRW
+160.00
(+1.59%)
ISIN
KR7403550007
Return %
Stock
S&P 500
1Y
-11.75
14.39
3Y
-34.38
81.42
5Y
- -
68.62
Capital Structure
KRW
•
in mil. unless spec.Working Capital
KRW
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in mil. unless spec.Growth Rates
KRW
•
in mil. unless spec.Quarterly Revenue
KRW
•
in mil. unless spec.Quarterly Earnings Per Share
KRW
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in mil. unless spec.Quarterly Dividends Per Share
KRW
•
in mil. unless spec.Company Description
- CEO
- Jae-Uk Park
- Full Time Employees
- 437
- Sector
- Technology services
- Industry
- Packaged software
- Address
- 42 Yeonmi-gil Jeju-si JE South Korea 63126
- IPO Date
- Aug 22, 2022
- Website
- socar.kr
- Similar Companies
- Business
- SOCAR Inc. SOCAR Inc. operates as a leading mobility platform in South Korea, primarily providing car-sharing services through its app-based platform that enables contactless, 24/7 vehicle access across more than 5,000 zones nationwide; it also offers long-term subscription rentals under the SOCAR Plan with flexible periods from one month to 36 months, platform parking services, micro-mobility options including electric bikes, and enterprise car-sharing solutions for businesses to optimize fleet management and reduce ownership costs. Founded in 2011 and headquartered in Jeju-si, South Korea, the company serves a broad customer base from Gen Z to baby boomers, commanding an 82% market share in the domestic car-sharing sector with a fleet exceeding 19,000 vehicles; it targets urban commuters, tourists, and corporate clients while expanding into integrated mobility ecosystems encompassing one-way airport services, foreigner rentals, and potential air reservations. In recent developments, SOCAR Inc. achieved its first operating profit of 4.6 billion won in Q3 2024 on consolidated basis, implemented the SOCAR 2.0 strategy by extending vehicle operation periods to 48 months and boosting SOCAR Plan capacity by over 319% year-over-year to 6,825 units, resumed used car sales for portfolio optimization, and listed on the Korea Stock Exchange in August 2022 following acquisitions of parking platform Modu Company and electric bike service Elecle to advance its super app ambitions. The company partners with entities like Naver for AI-enhanced services, local governments for parking sharing, and public institutions such as Korea Airports Corporation, while focusing on EV integration and autonomous driving investments to drive sustainable growth amid rising demand from older demographics.