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| A Kakao employee calls an autonomous vehicle with Kakao Mobility's Kakao T platform to test its service in Seoul, Nov. 10, 2022. Korea Times file |
By Kim Jae-heun
Kakao Mobility will sign a business agreement with Vietnamese mobility firm LVMC Holdings and establish a local service platform, which will then be launched in Laos the company said Tuesday.
LVMC Holdings, founded in 1997, is sometimes considered to be from Laos, as it has the largest vehicle sales in Laos and the second-largest commercial car sales in Vietnam. The company manufactures and produces cars and motorcycles on the Indochina Peninsula, including in Myanmar and Cambodia.
Kakao Mobility plans to provide a mobility platform exclusive to Laos this year and launch a locally suited service for the Laotian market. The company emphasized that the platform is for everyone ― not just for Koreans visiting Laos.
"With the company's entry to the Laotian market, we will continue to create successful overseas expansion cases that demonstrate global competitiveness in Southeast Asia ― a major mobility market in the world," a Kakao Mobility official said.
This puts them in fierce competition with Gozek and Grab, the two dominant players in Southeast Asia.
Kakao Mobility is operating in a total of 32 countries in Europe, Asia, Southeast Asia and the Middle East.
