From Mobility to Media: Kakao Mobility Eyes US Market With $1 Billion Listing

Kakao Mobility, operator of South Korea’s leading taxi-hailing and mobility platform Kakao T, has taken a significant step toward a US stock market debut by confidentially submitting a draft registration statement to the US Securities and Exchange Commission (SEC).

The company is seeking to raise about $1 billion, equivalent to roughly 1.4 trillion won, with Bank of America (BofA), Morgan Stanley and UBS reportedly selected as underwriters.

The proposed listing is expected to use American Depositary Receipts (ADRs), which would allow Kakao Mobility shares to be traded in the US market.

If completed, the transaction would become an important test of how a major Korean technology platform can access US capital markets while navigating domestic concerns over subsidiary listings and shareholder protection.

Beyond its core mobility business, Kakao Mobility is also expanding into Out-of-Home (OOH) advertising, including digital media installations at Seoul Station. The company is also a member of the World Out of Home Organization (WOO), reflecting its growing presence in the global OOH industry.