Socar funds autonomous-driving unit with 10 billion won

Socar will provide 10 billion won in operating funds to its wholly owned subsidiary Apex Mobility, according to a regulatory filing on July 30, to support initial operations and phased commercialization of autonomous-driving services.

The financing decision and payment date were both July 30, and Socar, named as the third-party allottee, will receive 10,000 newly issued shares in Apex Mobility. The new shares will be eligible for dividends from Jan. 1 and have a par value of 10,000 won each.

All 10 billion won in proceeds is designated for operating funds in 2026, specifically to support development toward the phased commercial rollout of autonomous-driving services, the filing said.

Apex Mobility was established as the entity dedicated to phased commercialization of autonomous-driving services, and the capital increase is meant to secure funding for its early business operations.

The company's stated business includes developing, supplying and operating autonomous-driving systems, the area that the new funding is meant to advance.

Apex Mobility is fully owned by Socar, whose consolidated assets at the parent level total 588 billion won, the July 30 filing showed.

The filing identifies Park Jae-wook as the subsidiary's representative, a role he also holds as chief executive at the parent company Socar.

Socar established Apex Mobility with Krafton in May 2026 with capital of 150 billion won, setting out its plan for autonomous-driving services. The companies intend to use real-driving and accident data gathered from Socar's fleet to advance E2E autonomous-driving technology for commercial services.

That technology is planned to feed into autonomous car-sharing and ride-hailing services, connecting the subsidiary's development work with Socar's current nationwide mobility operations.

Alongside its nationwide car-sharing core, Socar operates vehicle subscriptions, Elecle electric-bike sharing, the Modu Parking information and payment platform, and KTX-linked services.

Socar said revenue at the car-sharing division during the first quarter of 2026 fell 3.3 percent from the year-earlier period to 72.1 billion won. Gross profit nevertheless rose 38 percent to 13.9 billion won, raising the division's gross margin to 19.3 percent from 13.4 percent during the period.

First-quarter revenue at Modu Parking rose 27 percent from a year earlier, supported by a continued expansion in partner parking facilities and a higher number of users.

Park Jae-wook, chief executive of both Socar and Apex Mobility, said the improvement in Socar's core business enabled the company to pursue a full-stack mobility platform. He said Socar aims to create new growth engines while establishing a new benchmark for the future mobility industry through autonomous-service commercialization.

Socar and Apex Mobility have proposed a three-stage roadmap in Jeju: an electric-vehicle conversion, broader autonomous car-sharing, and an expansion of autonomous ride-hailing and robo-bus services. Under the proposal, they also plan to build a training-data pipeline and operate vehicles equipped with full sensor kits for the commercialization effort.

Park said Jeju Special Self-Governing Province offers a distinctive real-world testing environment for autonomous-driving services because demand from residents overlaps with demand from tourists.

He said open institutional design to foster the autonomous-driving industry could cut carbon emissions, address the mobility needs of people in transportation-vulnerable areas and promote tourism.