November 02, 2020 - Daimler Mobility is strengthening its rental business in the Korean market. Through the acquisition of Start-Rent-A-Car Korea, Mercedes-Benz Mobility Korea will offer premium mobility services throughout the entire dealer network in Korea. The approval was granted by local regulatory authorities on October 30, 2020.
Mercedes-Benz Mobility Korea (MBMK) announced today that it has completed the acquisition of Star-Rent-A-Car Korea (SRCK), specialized in long-term car rental business in the Korean market since 2014. The consolidated long-term car rental products and services of MBMK and SRCK will be operated under the MBMK brand. MBMK, an affiliate of Daimler Mobility, established in 2019, has been offering premium long-term rental car solutions to customers in Korea.
I am pleased that this milestone will help us to respond to the demands of our customers in Korea. Over the past five years, the Korean car rental market has shown strong growth with high customer demand in car rental for premium vehicles and Mercedes-Benz enjoys a top position in this sector. This transaction will serve as a cornerstone in providing tailor-made mobility solutions that can meet the diverse needs of Korean customers with fast, easy, and digital experiences to access Mercedes-Benz vehicle.
Guillaume Fritz CEO Mercedes-Benz Mobility Korea
As a result of this transaction, MBMK strengthens its footprint in the Korean market. Leveraging the expertise of SRCK in the long-term car rental business, MBMK will lay the groundwork for providing an enhanced customer experience that offers flexible and efficient mobility solutions in driving Mercedes-Benz vehicles in Korea. MBMK provides its mobility offerings across the entire country through the network of its 59 dealerships.
This transaction truly signifies the importance of the Korean market for Daimler Mobility AG. We decided to acquire SRCK to even better respond to the needs of Korean customers. We will continue to listen to the voice of our valued customers in Korea, and expand our comprehensive mobility ecosystem to offer flexible products that conventionally make our customers lives easier.
Yvonne Rosslenbroich Member of the Board of Management for Region Asia Pacific, Africa & China
Daimler Mobility AG shapes the future of mobility with comprehensive and flexible solutions across the entire journey of owning to sharing. Mercedes-Benz Mobility Korea established in 2019 is the first such entity set up in Asia to offer Daimler’s mobility solutions tailored to meet the needs of the Korean market.