Shared scooter services aim to diversify

[Courtesy of G Bike Co.]

The South Korean personal mobility (PM) industry is seeking new growth drivers as the South Korean shared-scooter market nears its saturation point.

According to industry sources on Tuesday, G Bike Co., the operator of the shared-scooter service Gcoo, is preparing a battery swapping service (BSS) with batteries compatible with various devices, expanding beyond its existing e-scooter and e-bike sharing business. G Bike, the first Korean PM company to develop its own universal battery in 2022, is currently refining its prototype and seeking partners for commercialization.

“We are considering options such as using a section of convenience stores as BSS areas for battery swaps,” a company spokesperson said, adding that the company aims to commercialize the new service by the end of 2024 or early 2025.

G Bike is also developing a subscription service for electric wheelchairs aimed at mobility-impaired individuals. “While many mobility companies are considering BSS networks for electric motorcycles, we plan to build a model that allows for battery compatibility across various electric devices such as scooters, bicycles, and wheelchairs,” the spokesperson added.

G Bike has developed and released a prototype of a hydrogen e-bike, the first of its kind among domestic PM companies. The company explains that hydrogen batteries are not only safer than lithium batteries, which pose a fire risk due to overcharging and high temperatures, but are also more efficient, positioning them as a future growth area. G Bike is seeking regulatory sandbox and test runs for the hydrogen e-bikes for potential commercialization.

Swing Co., operator of the shared-scooter service Swing, has been expanding its scale since launching the e-bike subscription service Swap in May 2024. Swing has also expanded its business to include the domestic operations of French premium electric bicycle Voltaire and motorcycle leasing service Swing Bike.

Socar Inc., a car-sharing platform company, is accelerating the growth of its shared e-bike service Socar Elecle by integrating it with the Socar application in 2024. It also plans to enable its app to search, rent, return, and pay for Seoul city’s shared bicycles Ddareungi by the first half of 2025.

The Korean shared-scooter market is currently dominated by G Bike and Swing, with various other platforms operating in different regions, such as Beam Mobility Korea Co., Olulo Inc., PUMP Co., and Deer Corp.

Meanwhile, taxi-hailing service providers are replacing leaders to drive organizational improvement and business transformation. Humax Mobility Corp., the operator of the car-sharing brand Turucar, Uber Taxi’s UT LLC, and Tada’s Value Creators & Co. (VCNC) are adopting niche strategies targeting foreign tourists and business-to-business clients as the hailing platform market dominated by Kakao Mobility Corp. stagnates.