Uber taxies parked at the taxi station / Courtesy of Uber Taxi

Global mobility platform Uber said Friday it will take over its Korean partner's shares in their joint mobility venture here to begin the independent operation of the company.

Uber has been operating a ride-hailing app, named Uber Taxi (UT), in Korea through the joint venture with TMAP Mobility, a mobility subsidiary of the investment company SK Square.

Uber currently owns 51 percent of UT's shares, while TMAP Mobility owns the remaining 49 percent.

The two sides have agreed on Uber's purchase of TMAP Mobility's shares in UT, according to officials from both companies. The acquisition will be completed when shareholders of the Korean firm approve the move in a general meeting slated to be held early next year.

Uber said it plans to strengthen investment in Korea, noting UT has seen rapid growth and that the Korean taxi industry has big growth potential.

The number of UT users jumped 80 percent from a year earlier in the first half, according to Uber.

We're excited to deepen our investment and commitment to Korea, a market with tremendous potential," said Dom Taylor, general manager of Uber's Asia-Pacific division. "We're focused on expanding access to reliable rides while unlocking more earning opportunities for drivers across the country." (Yonhap)