'Banban Taxi' Konatus, T1 Mobility Merger and Acquisition

[Asia Economy Reporter Buaeri] KonaTUS, the operator of the taxi-hailing platform 'Banban Taxi,' announced on the 9th that it has merged with T1 Mobility.

T1 Mobility, established in 2018, is a first-generation mobility startup that launched 'T1 Taxi' in 2019 and 'Reborn Taxi' in 2020.

KonaTUS stated, "Through this merger, the platform development technology possessed by KonaTUS combined with the trust T1 Mobility has built with local governments and the taxi industry will bring significant changes to the domestic mobility competition landscape."

Currently, the combined number of driver members of Banban Taxi and T1 Taxi is 130,000, which accounts for about 50% of taxi drivers nationwide. The company explained, "A nationwide taxi platform capable of competing with the monopoly platform that the taxi industry has been waiting for will be born."

KonaTUS has established a system that allows drivers to receive calls on the driver app even when passengers call via regional telephone call centers to promote coexistence with local call centers. It also provides public call platforms of local governments, welfare taxis, and regional currency payment functions.

Moon Jin-sang, CEO of T1 Mobility, will participate in management as a co-CEO of KonaTUS. CEO Moon said, "We will continue various efforts to improve the income of taxi workers along with the nationwide expansion of the platform."

Kim Ki-dong, CEO of KonaTUS, said, "Banban Taxi will evolve into a comprehensive mobility platform based on coexistence in the future."