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November 13, 2019

Mirae Ohsung Group to receive funds worth $55 m

PUBLISHED : September 11, 2019 - 15:33

UPDATED : September 11, 2019 - 15:44

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Mirae Ohsung Group on Sept. 10 signed a contract with German-based company Wintershall Holding to receive a funds worth 50 million euro ($55.26 million).

Wintershall Holding is a wholly owned subsidiary of German conglomerate BASF and mainly produces natural gas and crude oil worldwide. Its sales reached around 5 trillion won ($4.20 billion) last year.

“Wintershall Holding will fund our company as a financial investor,” a Mirae Ohsung Group official told The Investor.


Through this investment, the Korean company will also be able to push its future mobility business. Currently, the company is preparing to launch a mobility service platform, which is similar to Kakao’s taxi platform Kakao T, here with Didi Chuxing, China’s largest ride-hailing platform. The new platform is also expected to include 11-seater van taxi service.

Although industry insiders expect the launch of the service next year, as the Korean company announced that it has finished negotiating with a taxi association to solve the long-lasting conflict between the taxi industry and mobility startups, Mirae Ohsung Group declined to confirm the specific timeline.

The group also added that the Germany company showed interest in not only its mobility business but also other diverse businesses including energy and plant.

By Song Seung-hyun (ssh@heraldcorp.com)

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