DiDi Plans to Establish a Subsidiary in South Korea in 2020

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Insider of Chinese auto industry revealed that DiDi, the Chinese NO.1 online ride-hailing platform, is preparing to enter the Korean market in 2020. South Korea’s Mirae Ohsung Group said that the company is working on a plan with DiDi, and that it plans to establish a subsidiary in South Korea in 2020.


DiDi Plans to Establish a Subsidiary in South Korea in 2020

The relevant person in charge of Mirae Ohsung Group in South Korea said that the goal of DiDi is to provide taxi service in the Korean market in 2020. The company is in close dialogue with DiDi, and has basically completed the design of the mobile platform, waiting for DiDi to make the final decision. The person in charge also revealed that DiDi’s office in South Korea has been established, and Kim Beom-Chang, president of Mirae Ohsung Group, will be the head of the South Korean branch. DiDi or launch a Taxi platform similar to Kakao Taxi in Korea, and provide 11-seater minivan taxis.

This plan for DiDi is considered as part of its global expansion strategy. Earlier in 2019, DiDi began offering taxi services in the South American market and entered the Austrian and Japanese markets in 2018.

DiDi was established in 2012 and its current valuation has reached US$56 billion. According to Bain Consulting’s forecast, China’s travel market will reach 30 billion US dollars, while DiDi has a market share of 90%.