Ssoka Swings to 23.2 Billion Won Operating Profit Last Year...Six Consecutive Quarters in the Black

Sales Reach 470.7 Billion Won... Up 9% Year-on-Year

Ssoka announced in a regulatory filing on February 25 that, on a consolidated basis, it posted a provisional operating profit of 23.2 billion won last year, returning to the black. With this, Ssoka has recorded operating profits for six consecutive quarters through the fourth quarter of last year.

Last year’s annual revenue came to 470.7 billion won, up 9% from a year earlier. Gross profit was 102 billion won, representing growth of 26.7% year-on-year.

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Ssoka explained that the improvement in profitability was driven by maximizing vehicle lifetime value (LTV) under its “Ssoka 2.0” strategy. By using data-based demand forecasting and optimizing vehicle operations between its car-sharing service and the Ssoka Plan, the company achieved a lifetime gross profit per vehicle (from 2024 to 2025) of 14.2 million won. This figure is about 40% higher than in the period before the introduction of Ssoka 2.0 (from 2022 to 2023). The annual utilization rate also improved to 37.8%, up 3.1 percentage points from the previous year.

Operating profit for the fourth quarter of last year was 13.2 billion won, more than four times higher than the 3 billion won recorded a year earlier. The company attributed this to improved profitability driven by vehicle allocation optimized for year-end demand and greater efficiency in indirect costs. Adjusted net income for the full year 2025 was 6.4 billion won, and excluding 24.8 billion won in one-off expenses such as impairment losses on subsidiaries, the company effectively succeeded in turning a real profit.

This year, Ssoka plans to strengthen the competitiveness of its core car-sharing business while also preparing for future growth. It will enhance each of its car-sharing business models, including short-term car sharing, the Ssoka Plan, and test-drive services, to reinforce service competitiveness, and it plans to apply artificial intelligence (AI) technology across its internal operating processes and all customer touchpoints. In addition, based on driving data, the company will also prepare for the commercialization of autonomous driving technology.

Park Jaeuk, CEO of Ssoka, said, “2025 was the year in which we proved Ssoka’s structural profit-generating capability through restructuring centered on our core business,” adding, “This year, we will further enhance our corporate value through AI-based operational innovation and investment in future mobility technologies.”