[Edaily Reporter Lee So-hyun] #SOCAR, South Korea’s leading car-sharing company, held an extraordinary general meeting on the 4th and approved a proposal to amend its articles of incorporation, significantly expanding its business scope to include automobile sales, finance, and rentals. This move is intended to lay the groundwork for a full-scale transition from a car-sharing-centric business structure to a “full-stack mobility” company that encompasses everything from vehicle purchase and operation to financing and resale.

At its first extraordinary general meeting of 2026, held at its headquarters in Seongdong-gu, Seoul, SOCAR tabled and passed the first agenda item: a partial amendment to its articles of incorporation.

Through this amendment to the articles of incorporation, SOCAR is adding the following to its existing 33 business purposes: △Sale of new automobiles △Passenger automobile transportation △Trading △ sale of automotive parts and accessories △ comprehensive commodity brokerage △ comprehensive commodity wholesale △ insurance agency and brokerage △ consumer finance △ credit and secured loan services △ credit card and installment finance △ automobile leasing △ rental services. The company cited "business diversification" as the purpose of the amendment.

A review of the added business objectives reveals that they encompass the entire vehicle lifecycle, including new car sales, used car sales, sales of parts and accessories, and car leasing and rental services. This effectively establishes a foundation for the company to directly handle nearly all vehicle-related transactions—from new car sales and leasing to parts distribution—in addition to its existing car-sharing and subscription services.

Furthermore, the inclusion of passenger transportation services in the business objectives is interpreted as a move aimed at future entry into autonomous driving-based paid transportation services. SOCAR has agreed to establish "Apex Mobility," an autonomous driving joint venture worth a total of 150 billion won, in collaboration with Krafton.

Next is the expansion into the financial sector. The company has established the legal foundation to directly provide a full range of financial services linked to vehicle purchase and use, including consumer finance, credit and secured loans, credit card and installment financing, and insurance agency and brokerage services. This could lead to a vertically integrated model that offers customers a one-stop solution for financial services within the platform when purchasing, subscribing to, or renting vehicles. The vision is to go beyond simple mobility services and bring all of a customer’s vehicle-related expenses into the platform.

Additionally, the company is expanding into trade, comprehensive commodity brokerage, and comprehensive commodity wholesale. This is interpreted as opening the door to the possibility of entering the import and export of vehicles and parts, as well as brokerage businesses utilizing the platform.

SOCAR previously announced its vision to expand its business scope beyond car-sharing to include car rentals, used cars, new car sales, and autonomous driving through its mid-to-long-term strategy, “SOCAR The Next.” This amendment to the articles of incorporation lays the legal groundwork for that execution and serves as a signal that the strategic vision is moving into the full implementation phase. Currently, Socar maintains an overwhelming market position, holding approximately 82% of the car-sharing market share as of the first quarter of this year, with its core business focused on short-term car-sharing and monthly subscription services.

Additionally, at the extraordinary general meeting held today, a resolution was passed to amend the articles of incorporation to strengthen the independence of SOCAR’s board of directors. Previously, the CEO served as the chair of the board; however, going forward, the board may appoint a separate chair from among its members through a board resolution. SOCAR stated that the purpose of the amendment is to “enhance the independence and efficiency of board operations.” This aligns with the growing trend of strengthening board-centered management, particularly among listed companies.