07:00 AM EDT, 08/30/2024 (MT Newswires) -- Uber Technologies ( UBER ) is focusing on expanding its presence in South Korea to challenge Kakao, which holds over 90% of the market, multiple media outlets reported Friday, citing Chief Executive Officer Dara Khosrowshahi.

Khosrowshahi said Uber ( UBER ) plans to increase the number of taxi drivers on its platform.

Uber ( UBER ) began operating in South Korea in 2013 but withdrew due to regulations. It resumed operations in the country in 2021 through a joint venture with SK Square's T Map Mobility, rebranding as Uber Taxi in March this year

Uber ( UBER ) is "growing significantly faster than the market" and is "confident" that its market share "will only grow from here", Khosrowshahi was quoted by Bloomberg as saying on Friday.

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