Why overseas buyout giants are chasing Korea's rental car operators

Global private equity firms are lining up to take a bite of South Korea's rental car industry, reflecting a growing view that the industry is transforming from a traditional leasing business into a mobility platform built around vehicle access.

US-based private equity firm TPG is moving to acquire a controlling stake in Lotte Rental, the operator of the country's second-largest car rental brand Lotte Rent-a-Car.

Having secured exclusive due diligence rights, TPG is seeking to secure the 61.21 pe ...