South Korean car-sharing startup SoCar to penetrate Malaysia

South Korean car-sharing startup SoCar is gearing up to launch its operation in Malaysia this month in its first overseas expansion.

This is according to the South Korea's Yonhap news agency. The report on NST also said the company pointed out that Malaysia has a "high growth potential for the new industry as it is densely populated in the city centers." This the company said, will help in pushing the expansion of its presence in the Southeast Asian market. The report also said SoCar is also planning to establish 120 zones with 240 automobiles in the Southeast Asia.

SoCar was launched in 2012, and it now has 8,200 cars in 3,200 SoCar zones throughout South Korea, with over 3.4 million members.

Other similar car-sharing companies operating in Malaysia include GoCar and moovby.