​Kakao launches mobile parking service

KakaoTaxi, the South Korean chat giant's cab chauffeur service, has been rebranded Kakao T and combines all the firm's transportation services with the new addition of parking.

Kakao Mobility has rebranded its cab chauffeur service KakaoTaxi and updated it to include all its existing transportation services along with the new addition of parking.

Now called Kakao T, users can call cabs, call for substitute drivers, navigate, and search for parking spaces all through the one app, the company said.

They can access any of those services through a tab bar at the top of the app. Payments will be automatically paid through Kakao Pay, the firm said.

The new parking service searches for available parking spaces in real time, and will suggest up to five parking spaces around the user's specified location. Users can register and pay for use before arrival.

Partnered parking lots, which currently number around 1,000, will have a number plate reader allowing for pre-paid users to go inside without additional checks.

Kakao Mobility said that there was currently an asymmetry in information between users and parking spaces. It said the new service will drastically reduce search time for users while parking spaces will get uninterrupted revenue stream.

The firm in September announced that it was collaborating with Incheon International Airport to use its data for smart parking.

The company bought parking startup Parking Square in February for the launch of the service.

Kakao Mobility is chat giant Kakao's transportation services subsidiary.

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