Uber vs Kakao Mobility: Who Will Dominate the Korean Ride-Hailing Market in 2026?

[Digital Today reporter Seok Dae-geon] Reports that Uber, the global mobility leader, is weighing a potential takeover of South Korea’s largest platform, Kakao Mobility, have prompted both companies to publicly distance themselves for now.

Sources say Uber has informed major shareholders of its interest and is conducting due diligence on a possible acquisition through a purchase of Kakao Mobility shares.

Responding to the reports, a Kakao Mobility spokesperson said the firm is not the seller referenced in the articles and has no official information. A representative for Uber Taxi, which runs Uber’s domestic operations, said the company has no formal position and is checking the matter.

According to Kakao Mobility’s 2025 business report, parent company Kakao holds a 57.2% stake. Financial investors include TPG Capital’s Khaki Holdings with 14.29% and Carlyle Group’s Kilometer Holdings with 6.17%. LG owns 2.46% and Google holds 1.52% as minority shareholders.

Industry observers note the firms operate in different lanes. Uber Taxi is focused on expanding its share of South Korea’s ride-hail market, while Kakao Mobility — already above 90% market share in taxis — has been expanding its platform into logistics, delivery, car washes and chauffeur services, and this year is prioritizing next-generation areas such as physical AI.

Kakao Mobility’s financials are on an upswing. Last year it posted revenue of 739.3 billion KRW (about 554.5 million USD) and operating profit of 115.5 billion KRW (about 86.6 million USD), marking a third consecutive year of rising operating profit. Its operating margin improved 1.8 percentage points to 15.6%, and net income climbed 78% to 51.4 billion KRW (about 38.6 million USD). Cumulative deficits fell by 84.4 billion KRW (about 63.3 million USD) over two years, putting the company on a firmer financial footing.

Globally, Uber is accelerating its push into autonomous taxis. The company has moved to acquire Blacklane in Germany, is preparing what it says will be Europe’s first robo-taxi service in Croatia with Pony.ai, and has announced a robo-taxi pilot in Tokyo with Nissan and Wave planned for late 2026.

But Uber has said any autonomous-driving initiatives in South Korea will proceed in step with the development of local laws and regulations, signaling a more cautious approach than in some other markets. Uber Taxi’s domestic team remains focused on growing its ride-hail market share. At a company briefing last year, Jinwoo Song, head of Uber Taxi, said, “We will stay focused on our core until we reach a certain level of growth in the Korean market.”