G-bike, operated by CEO Yoon Jong-su, and known for its electric scooter sharing platform 'Gcooter,' has announced on the 9th that after acquiring 'ZET,' a sharing-type PM business from Hyundai and Kia, it will further acquire the 'GUGU Scooter' business.
GUGU Scooters, a service actively operated around Seongnam City, faced difficulties expanding its business due to regulations implemented in May 2021, and has now been acquired by Gcooter. Existing GUGU Scooter users can now use the PM sharing service through the Gcooter app.
Despite many PM companies ending their shared scooter services or withdrawing from the Korean market due to various regulations, Gcooter continuous acquisitions of shared PM businesses are stirring up a reorganization of the market within the industry.
Gcooter, which started sharing services with about 300 PMs in January 2019, is the nation's leading company with a market share, operating 45,000 PMs as of July 2022. Gcooter explains the driving force behind its growth of 150 times in three years lies in its internalized operational methods and specialized technology.
Indeed, Gcooter has increased efficiency by internalizing overall operations such as PM maintenance, safety management, and complaint response, and is managed directly by the headquarters rather than outsourcing. Moreover, it has developed and commercialized the nation's first domestically produced shared electric scooter, thus being recognized for its stability and technical skills.
CEO Yoon Jong-su of Gcooter stated, "Our goal is to provide safe and reliable short-range transportation, contributing to people's free and convenient lifestyle," and expressed his intent to "advance as a company leading the preemptive PM market through acquisitions based on G-bike's core technology accumulated over time."
Meanwhile, G-bike has been recognized as a company with excellent business capabilities and competitiveness, having been selected as an excellent certified company in technology evaluation by 'NICE Evaluation Information,' a national accredited technical evaluation institution designated by the Financial Services Commission and the Ministry of Trade, Industry and Energy in 2022.
