UT to rebrand taxi service to Uber Taxi

An Uber rideshare sign is posted nearby as taxis wait to pick up passengers at Los Angeles International Airport in Los Angeles, California, U.S., Feb. 8, 2023. AFP-Yonhap

UT, a mobility company based in Korea, said Thursday it will change the name of its taxi-hailing platform service to Uber Taxi from UT.

UT is a joint venture created by the U.S. ride-hailing service company Uber Technology and Korean mobility firm Tmap Mobility in 2021 as part of Uber's efforts to break into the Korean market.

With the rebranding of the service, foreign visitors to Korea will be able to use the original Uber application to grab taxis here, according to company officials.

At the same time, Korean users will gain access to Uber services abroad through an automatic update to the Uber Taxi application, scheduled for early next month.

The name of the joint venture and the shareholding structure will stay unchanged, the officials said.

Currently, Uber owns 51 percent of UT's total shares and Tmap Mobility the remaining 49 percent. (Yonhap)