Tada and Socar to Split and Become Independent Companies

[Asia Economy Reporter Buaeri] The mobility platform 'Tada' will be spun off from 'Socar' and launched as an independent company starting this April.

On the 12th, Socar held a board meeting and decided to spin off and establish 'Tada (tentative name)'. Accordingly, Tada will focus on the ridesharing business, while Socar will concentrate on the carsharing business.

This corporate split aims to enhance competitiveness based on the core capabilities of each business division, expand domestic and international investment attraction, and promote business growth through strategic partnerships, marking a decision to pursue innovation and growth.

Park Jaewook, CEO of Tada, explained, "Starting anew as an independent company will expand Tada's business opportunities and actively attract investment, creating a new opportunity to significantly expand the domestic mobility platform industry."

Lee Jaewoong, CEO of Socar, said, "With Tada's dynamic growth and Socar's stable growth, we will do our best to expand the mobility platform ecosystem that dreams not of one unicorn, but many unicorns."