Seoul-Based Coop Taxi Gives Power Back to Drivers

Summary

Here’s the problem: The taxi industry in Seoul has exploited drivers for some time. Indeed, in order to drive a taxi in South Korea, drivers are required to pay 120,000 won (approximately $105) in daily fees to 244 independent companies. This situation has been further exacerbated by the introduction of the KakaoTaxi app. Launched March 31, 2015, KakaoTaxi is a platform that connects drivers to passengers directly. While increasing efficiency, the introduction of KakaoTaxi has also accelerated competition, forcing drivers to lower prices significantly.