이동의즐거움

What 이동의즐거움 does

EZL Corp. (이동의즐거움, formerly Cashbee) is a Seoul-headquartered public corporation that, since 1995, has built and operated Korea's pioneering transportation fare settlement infrastructure. The company's core technology is an Automatic Fare Collection (AFC) settlement system leveraging KT network connectivity and proprietary Tagless (태그리스) contactless payment technology, covering more than 80% of Korean regions and processing approximately 12.36 million daily transactions across buses, subways, taxis, and intercity buses, with an annual cumulative transaction value exceeding KRW 7.7 trillion and 80 million+ cards supplied per year. The platform supports the EZL Card and K-Pass government fare-refund program (refunds of 20–53% per trip depending on user category) as its flagship products, with rebrand from Cashbee to EZL completed in 2024.

Beyond transit settlement, EZL has extended into an integrated mobility and welfare ecosystem. This includes the Climate Action Opportunity Income platform (1.44 million subscribers in Gyeonggi Province, rewarding 16 eco-friendly activities with up to KRW 60,000 annual value per participant), the Culture Pass cultural welfare program, the integrated Haengbok Deohagi welfare card, an MVNO resale service leveraging KT network capacity, and intercity bus reservations. The October 2025 acquisition of SuperMove added a MaaS platform enabling unified multi-modal search, reservation, and payment (rail, air, bus, personal mobility), selected by the Ministry of Land, Infrastructure and Transport for the national MaaS pilot program.

The company operates under a multi-channel go-to-market: direct-to-consumer via convenience stores, the EZL charging station app, and government welfare channels; channel partnerships with shared mobility operators (Zibike/GCOO for Tagride in Busan) and municipal governments; and enterprise sales to transit operators and government agencies. Kemas Holdings (Kemas Holdings) holds 100% ownership as parent, with Macquarie Asset Management's SPC participating in the equity structure; total consolidated assets stand at KRW 591.7 billion against equity of KRW 250.9 billion. The business generates revenue primarily through per-transaction settlement fees on public transit, transaction fees from card sales/top-ups, managed-services contracts for welfare platforms, MVNO subscription resale, and K-Pass administrative fees for government-subsidized refunds.

Name

이동의즐거움

Legal name

주식회사 이동의즐거움

Website

https://myezl.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

EZL Corp. (이동의즐거움) operates Korea's pioneering transportation fare settlement infrastructure covering 80%+ of regions, processing 12.36M daily transactions via EZL Card, K-Pass, and an integrated mobility/welfare platform spanning MaaS, climate incentives, and MVNO services.

Ownership category

akta.pro rank

Product category

Transit Payment Infrastructure

NAICS

Telecommunications Resellers (517121)

SIC

Transportation Services (4700)

akta.pro primary industry

Integrated Ticketing & Fare Management (Capping, Passes, Validators) (THADALAC)

akta.pro secondary industry

Mobility Payments & Wallets (Transit + Mobility) (THADALAD)

Keywords

• Transit fare settlement
• Transportation card systems
• MaaS mobility platform
• Government welfare cards
• Mobile telecom resale

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. 대중교통 정산 수수료: Transaction-based fees from processing and settling public transportation payments across buses, subways, and taxis nationwide. Revenue is generated through per-transaction fees and monthly settlement services for transit operators and local governments.
2. 교통카드 판매 및 충전: Revenue from sale of physical transportation cards through convenience stores and charging/management fees through the EZL charging station app. Additional revenue from mobile transportation card registration and management services.
3. 부가통신 서비스 (MVNO): Mobile virtual network operator services reselling KT network capacity, providing postpaid and prepaid mobile plans bundled with transportation card functionality. Revenue from monthly service fees and usage charges.
4. 지자체 복지 및 정책 플랫폼 운영: Government contracts for operating welfare card platforms (행복더하기), climate action incentive programs (기후행동 기회소득), and public transportation subsidy management systems for local governments and national agencies.
5. 시외버스 및 고속버스 예매 서비스: Intercity bus reservation and ticketing platform generating revenue through booking fees and transaction commissions on ticket sales.
6. K-패스 환급 정산: Administrative fees from processing government-subsidized public transportation fare refunds under the K-pass program, managing multi-tiered refund rates for different user categories (general, youth, low-income, multi-child families).

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

EZL Corp. operates Korea's nationwide transportation card settlement system, processing public transit fares across buses, subways, taxis, and shared mobility. The company sells reloadable EZL transit cards (formerly branded Cashbee), manages the K-Pass government fare refund program (20-53% refunds), and operates welfare platforms including the Climate Action Opportunity Income platform and 행복더하기 integrated welfare card. The company also resells mobile telecommunications services as a licensed MVNO using KT's network infrastructure and, through its 2025 acquisition of SuperMove, provides integrated MaaS (Mobility as a Service) solutions.

Product overview

이동의즐거움 (EZL Corp.) operates a platform-based mobility ecosystem centered on the EZL (이즐) transportation card brand, rebranded from Cashbee (캐시비). The core product suite includes physical and mobile EZL Cards supporting K-Pass government fare refunds (prepaid and postpaid variants), the Tagride instant transfer discount service linking transit with shared bicycles, and the EZL charging app for real-time balance management. Beyond transit, the platform extends into welfare services including the integrated '행복더하기' welfare card, the '기후행동 기회소득' environmental reward platform (1.44M+ subscribers), and the '컬처패스' Gyeonggi cultural benefits program. The company also offers an MVNO resale service (KT-based), intercity bus reservation, and, following its October 2025 acquisition of SuperMove, a full-stack MaaS platform enabling unified multi-modal transport search, reservation, and payment. Key technologies include tagless contactless settlement and a nationwide transportation fare settlement system covering 80%+ of Korea with 80 million annual card supplies.

Differentiator

Problem solved

Functional benefit

Brands

• 이즐카드: 업계 최초 One Wallet 교통카드 브랜드.
• 캐시비
• 마이비
• 태그라이드
• 이즐충전소
• 슈퍼무브
• 행복더하기
• 기후행동 기회소득
• 컬처패스
• 모두의 카드 K-패스

Products and services

• EZL Card (이즐카드)

Quantifiable outcome

• 23%+ of Korean population uses EZL transportation services daily, with 1.236 billion daily transactions
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• 슈퍼무브 (SuperMove)coreStrategic or Co-development Partner · 1 October 2025EZL Corp. completed the acquisition of SuperMove (슈퍼무브), a MaaS (Mobility as a Service) platform operator selected by the Ministry of Land, Infrastructure and Transport for the national MaaS pilot program. SuperMove provides unified search, reservation, and payment services across rail, air, bus and other transportation modes. The acquisition combines EZL's transportation settlement infrastructure with SuperMove's technology and data analytics capabilities to accelerate development of a next-generation integrated mobility platform and expand regional MaaS business nationwide.
• 지바이크 (Zibike) / GCOOcoreStrategic or Co-development Partner · 1 July 2025EZL Corp. partnered with Zibike (지바이크), operator of the GCOO shared bicycle service, to launch the Tagride (태그라이드) service in Busan. The partnership enables transit users to receive instant 500 KRW discount on shared bike rides when tagging their transportation card within 30 minutes of exiting buses or subways. This public-private collaboration addresses first/last mile connectivity and has been developed based on accumulated experience from Busan's pilot program. The partnership represents a core strategic initiative for EZL's integrated mobility platform expansion.
• 케이티 (KT Corporation)coreTechnology or IntegrationKT Corporation provides telecommunications network infrastructure for EZL's MVNO (mobile virtual network operator) resale services. As the network provider (망제공사업자), KT supplies the underlying mobile network capacity that EZL resells to consumers under its own brand as a 별정통신사업자 (specialized telecommunications reseller).
• 경기도 (Gyeonggi Province Government)coreStrategic or Co-development PartnerGyeonggi Province is a key government partner for multiple EZL platforms including the Climate Action Opportunity Income (기후행동 기회소득) platform with 1.44 million subscribers, the Culture Pass (컬처패스) cultural welfare platform, and the integrated welfare card system (행복더하기). The partnership involves government procurement of EZL's mobility and welfare technology platforms for public service delivery.
• 컬처패스 제휴처 (Culture Pass Partner Merchants)minorGTM or Marketing PartnerCulture Pass platform partners include major entertainment and leisure providers such as CGV (movie theaters), Ticketlink,여기어때 (accommodation booking), and other cultural consumption venues. These merchants accept Culture Pass coupons issued through the Gyeonggi Province welfare platform operated by EZL.
• 캐시비/마이비/부산하나로카드/한페이시스 (Cashbee/Mybi/Busanhanaro/Hanpaysys)coreTechnology or IntegrationRelated brand network within the EZL ecosystem - Cashbee (캐시비), Mybi (마이비), Busanhanaro (부산하나로카드), and Hanpaysys (한페이시스) are affiliated transportation card brands that operate within the same settlement network, enabling interoperability across different regional transportation systems in Korea.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cubic Transportation Systems: Global provider of fare collection and AFC systems for public transit operators worldwide. Closely comparable technology and business model to EZL's settlement infrastructure, serving similar transit operator and municipal government clients with proprietary payment/validation systems.
• ParkMobile: Mobile payment platform for parking and transportation services across North America, with expanding multi-modal mobility capabilities. Comparable to EZL as a mobile-first payment platform for transportation infrastructure, with similar focus on digitizing legacy fare/payment systems.
• Masabi: Provider of mobile ticketing and fare payment platforms for transit agencies globally (Justride platform). Directly comparable to EZL's mobile transit payment and MaaS direction, with similar focus on digitizing fare collection for public transit.
• Kakao Mobility (카카오모빌리티): Korea's leading mobility platform offering taxi-hailing, navigation, and integrated mobility services under the Kakao ecosystem. Comparable to EZL as both build integrated mobility/payment platforms targeting Korean consumers and municipalities, with Kakao Pay extending into transit payments.
• T-money (티머니): Korea's other major transit card and fare settlement system, widely used across Seoul metropolitan transit and accepted nationwide. Directly competes with EZL in Korean transit fare settlement and card issuance, serving overlapping consumer and municipal government customers with similar AFC infrastructure.

Broad incumbents

• Thales Transportation: Global transportation technology division providing fare collection, ticketing, and mobility platforms for transit operators and rail networks. Comparable to EZL as a transit fare collection incumbent, though operating as part of a much broader global defense/technology conglomerate.
• Samsung Card (삼성카드): One of Korea's leading credit card issuers with mobile payment capabilities (Samsung Pay) and transit payment integrations. Comparable as a Korean payment provider with transit functionality, though broader financial services focus rather than transit-specialized like EZL.
• Hyundai Card (현대카드): Major Korean credit card issuer with integrated transit payment functionality and corporate card programs. Comparable to EZL as a Korean payment card issuer with transit functionality, though operating as a much broader financial services incumbent rather than a transit-specialized platform.
• Scheidt & Bachmann: European manufacturer of fare collection systems, validators, and AFC infrastructure for transit operators worldwide. Comparable to EZL as a global incumbent in transit fare settlement hardware and software, though operating at much larger scale across European and international markets.

Emerging players

• Toss (토스): Korean fintech super-app with leading mobile payment platform extending into transit, mobility, and financial services. Comparable as an emerging Korean digital wallet and payment platform competing for transit and government payment flows, with younger brand but strong consumer adoption.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC3_CCo8qLGJo55BwlfSPygw
• Instagraminstagram.com/ezl_official/?img_index=1
• LinkedInlinkedin.com/company/myezl

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

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