The car - sharing market in South Korea is reportedly seeing extremely fast expansion as young drivers take the chance to drive different vehicles , rather than buying one themselves . “The local car-sharing market is expected to grow more than 100 percent this year as young, tech-savvy consumers will spend less on buying cars, which incur high maintenance costs, but more on just renting or sharing them,” said Lee Seung-hoon, an analyst at LG Economic Research Institute. The number of users in local car - sharing clubs has risen from less than 200,000 users in 2005 , to more than 3 million this year . Local analysts predict the market will grow by more than 100 % this year “ as young , tech - savvy consumers spend less on buying cars , which incur high maintenance costs , but more on just renting or sharing them … ” As a result , market watchers are predicting Hyundai , the nation ’s largest automaker , may enter the car - sharing race , as the firm is reportedly reviewing business opportunities via sharing its hybrid and electric vehicles - keeping pace with General Motors , Ford , and Volvo , which have already started car - sharing services internationally .
The car - sharing market in South Korea is reportedly seeing extremely fast expansion as young drivers take the chance to drive different vehicles , rather than buying one themselves . The number of users in local car - sharing clubs has risen from less than 200,000 users in 2005 , to more than 3 million this year . Local analysts predict the market will grow by more than 100 % this year “ as young , tech - savvy consumers spend less on buying cars , which incur high maintenance costs , but more on just renting or sharing them … ” As a result , market watchers are predicting Hyundai , the nation ’s largest automaker , may enter the car - sharing race , as the firm is reportedly reviewing business opportunities via sharing its hybrid and electric vehicles - keeping pace with General Motors , Ford , and Volvo , which have already started car - sharing services internationally .