(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Claims have surfaced that SK may completely exit the taxi business it has been operating for the past four years.

According to industry sources on the 3rd, T Map Mobility, a subsidiary of SK Square, has recently begun discussions to divest its stake in UT, a joint venture established with Uber. Various options are being considered, including Uber acquiring some or all of T Map Mobility's shares.

Currently, UT's ownership is split with Uber holding 51% and T Map Mobility holding 49%. Uber first entered the South Korean market in August 2013 but withdrew due to legal controversies. Eight years later, in April 2021, Uber re-entered the market by launching the joint venture UT with T Map Mobility.

Instead of focusing on UT, T Map Mobility is expected to expand and concentrate on its 'data' business to enhance profitability.

Regarding the potential stake sale, a T Map Mobility representative stated, "We are exploring various options for business expansion, including the data business, but it is difficult to confirm anything related to the divestment of our stake."

 

 

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