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S. Korean Mobility Sector in Crisis as Gov’t Caters to Taxi Industry

S. Korean Mobility Sector in Crisis as Gov’t Caters to Taxi Industry

SEOUL, Jul. 18 (Korea Bizwire) — A prolonged dispute between the taxi industry and the mobility service industry is drawing to a close as the Ministry of Land, Infrastructure and Transport announced new regulations on Wednesday obligating mobility platforms to pay public donations. The ministry also decided to restrict all mobility platforms except for those [...]

Easing Regulations for App-based Hailing Services Eyed in Return for Contribution

Easing Regulations for App-based Hailing Services Eyed in Return for Contribution

SEOUL, Jul. 17 (Korea Bizwire) — In what could signal an end to a monthslong tussle between conventional taxi service providers and new mobility platform operators, the government on Wednesday proposed easing regulations for new ride services, while outlining measures to support the taxi service industry. The taxi industry has been at odds with ride-sharing [...]

Tada Struggles to Go Beyond Legal Gray Area in S. Korean Taxi Market

Tada Struggles to Go Beyond Legal Gray Area in S. Korean Taxi Market

SEOUL, Jun. 27 (Korea Bizwire) — Doing business in a legal gray area needs a lot of guts and an elaborate scheme, and that is especially so in South Korea’s tightly regulated taxi industry, which sets high barriers for mobility startups seeking to enter the market without taxi licenses. The latest major challenger is Tada [...]

Controversy Deepens over Accepting Ride-sharing Services or Protecting the Taxi Industry

Controversy Deepens over Accepting Ride-sharing Services or Protecting the Taxi Industry

SEOUL, May 29 (Korea Bizwire) — Controversy looms over innovation and protection of victims as the dispute between Tada, a ride-hailing service, and the taxi industry continues to deepen. Experts argue that the 4th Industrial Revolution and the expansion of the sharing economy has made it inevitable for the ride service industry to go through [...]

Hyundai, Kia to Invest $300 mln in Indian Ride-hailing Firm

Hyundai, Kia to Invest $300 mln in Indian Ride-hailing Firm

SEOUL, Mar. 19 (Korea Bizwire) — Hyundai Motor Co. and its affiliate, Kia Motors Corp., will invest a combined 338.4 billion won (US$300 million) in India’s biggest ride-hailing firm, Ola, in their single biggest investment ever, Hyundai said Tuesday. Hyundai Motor and Kia Motors will invest $240 million and $60 million, respectively, in Ola to [...]

Grab Begins Hyundai Kona EV-based Ride-hailing Service

Grab Begins Hyundai Kona EV-based Ride-hailing Service

SEOUL, Jan. 16 (Korea Bizwire) — Hyundai Motor Co., South Korean’s largest carmaker by sales, said Wednesday that Singapore-based Grab began using its Kona Electric for its ride-hailing service this month. In November, Hyundai Motor and its affiliate Kia Motors Corp. jointly invested US$250 million in the Southeast Asian company for a business partnership in [...]

S. Korean Startup Launches Beta Version of Ride-hailing Service

S. Korean Startup Launches Beta Version of Ride-hailing Service

SEOUL, Oct. 8 (Korea Bizwire) — South Korean mobility startup VCNC said Monday it has launched a new ride-hailing service in Seoul and an adjacent city with 11-seat vans in a move to get around a local transportation law. VCNC said hundreds of its passenger vans offer a service called Tada in Seoul and Incheon, [...]

Kakao Mobility Joins Hands with JapanTaxi

Kakao Mobility Joins Hands with JapanTaxi

SEOUL, Sept. 6 (Korea Bizwire) — Kakao Mobility, a South Korean firm that provides ride-hailing and driver-for-hire services, said Thursday that it has invested 1.5 billion yen (US$13.4 million) for a 3.4 percent stake in Japan’s largest taxi-hailing service, JapanTaxi Co., in a move to expand its services beyond the home market. The two firms [...]

Kakao Taxi App Equipped with AI Function

Kakao Taxi App Equipped with AI Function

SEOUL, Apr. 10 (Korea Bizwire) – Kakao Mobility, a South Korean firm that provides cab-hailing and driver-for-hire services, said Tuesday it has added an artificial intelligence (AI) function to its ride-hailing operation. The AI-based “smart call” was added to South Korea’s most popular cab-hailing app Kakao Taxi so that a user can request a driver [...]

SK Invests in Singapore’s Ride-hailing Firm Grab

SK Invests in Singapore’s Ride-hailing Firm Grab

SEOUL, Apr. 5 (Korea Bizwire) — SK Holdings Co., the holding firm of South Korean energy and telecom conglomerate SK Group, has invested in Singapore-based ride-hailing firm Grab, a company official said Thursday. SK Holdings made the investment in mid-March, Lee Young-suk, an official handling brand management at SK Holdings, said. “We are interested in [...]