(MENAFN) Kakao Mobility, South Korean ride-hailing and driver-for-hire services provider, said it has invested USD13.4 million for a 3.4 percent stake in Japan's largest taxi-hailing service, JapanTaxi Co., in a move to expand its services beyond the home market.
According to the company, both firms plan to release roaming services between their ride-hailing apps in the fourth quarter.
The services will allow South Korean visitors in Japan to use Kakao Mobility's app Kakao T to hail a JapanTaxi, while Japanese in South Korea can arrange a cab ride to be provided by Kakao T by using the JapanTaxi app.
Head of Kakao Mobility said: "We will actively cooperate with JapanTaxi to forge innovation in the taxi-hailing culture in Japan with Kakao Mobility's technology and know-how."
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