Pump Co., the operator of South Korea's personal mobility (PM) sharing service Xingxing, said on Monday that it will merge with Wololo, the company behind the Kickgoing service.
PM refers to personalized transportation options such as electric scooters and bicycles.
After the merger, Pump Co. will emerge as the surviving entity, with both Xingxing and Kickgoing brands continuing to operate.
The devices from both services will be integrated across their respective apps.
The merger combines the user base of the two platforms to approximately 5 million.
The consolidation reduces the number of PM companies in South Korea to seven, down from about 20 just three years ago.
Only four PM companies, Swing, Gcoo, Beam Mobility, and Xingxing, remain operational in Seoul.
Write to Eun-Yi Ko at
koko@hankyung.com
