Olulo

About Olulo

Olulo is the operator of Kickgoing, South Korea's first shared electric kickscooter service, which also offers electric bicycles. The company was founded in Seoul in 2017 by CEO Choi Young-woo. Choi, who holds degrees in electronic engineering from Pohang University of Science and Technology and Seoul National University, spent 16 years at Hyundai Motor Group working on connected cars before launching Olulo. His experience at Hyundai led him to explore solutions for urban mobility challenges and the social costs of automobiles, which became the foundation for the startup. He was joined by his high school friend, Jinbok Lee, former head of research at Woowa Brothers, who became the CTO.

The Kickgoing service allows users to locate, rent, and pay for e-scooters and e-bikes via a mobile app available for iOS and Android. Users unlock the vehicles by scanning a QR code and are required to have a driver's license. The business model is based on a pay-per-use system, with a base fee for the first five minutes and a subsequent per-minute charge, processed through a registered credit card. The service operates in numerous locations across South Korea, including Seoul, Busan, and other metropolitan areas. To enhance service organization, the company developed dedicated parking areas called 'Kick Spots'.

Kickgoing has secured investments from notable firms including Hyundai Motor Company, Magna Investment, and DSC Investment. In August 2024, it was announced that Olulo Inc. would be absorbed by PUMP Inc. (operator of the 'Xingxing' service) through a merger, with Olulo set to be dissolved. Following the merger, Kickgoing continues to operate as an acquired/merged subsidiary.