Korean internet company Kakao Mobility signed a contract with LVMC Holdings Company in Vietnam on Tuesday to provide online taxi-hailing and parking services in Laos.
This year, Kakao mobility aims to introduce a mobility platform exclusive to Laos and launch an exclusive service platform for the Laotian market. They also want everyone to know that the platform is for everyone – not just Koreans.
“With the company’s entry to the Laotian market, we will continue to create successful overseas expansion that will demonstrate global competitiveness in Southeast Asia ― a major mobility market in the world,” a Kakao Mobility official said.
Kakao mobility is currently operating in a total of 32 countries in Europe, Asia, South East Asia. Moving into the ASEAN market will put them in direct competition with the two leading firms in Southeast Asia, Gozek and Grab. It will also provide direct competition with LOCA, the leading mobility company in Laos.
LVMC Holding, previously known as Kolao holdings, was established in 1997. While it is sometimes thought to be from Laos due to its high vehicle sales in Laos, but the company was originally started in Vietnam as a partnership between the Korean company Daewoo and a union owned by the Vietnamese military. Despite this, the company’s first factory was oppened in Savannakhet Province, and has since opened new countries in Myanmar, Cambodia, Thailand, and Vietnam.
Currently, LOCA is the number one mobile application taxi service in Laos with more than 600 cars and 60,000 users. The entry of Kakao mobility into the Lao market could mean more jobs and more competitive taxis services available to people in Laos.
