sharing economy Archives | Be Korea-savvy
Uber Vows to Comply with Local Rules As It Seeks to Move Deeper into Tech-Savvy S. Korea

Uber Vows to Comply with Local Rules As It Seeks to Move Deeper into Tech-Savvy S. Korea

SEOUL, Aug. 29 (Korea Bizwire) — Global ride-hiring application operator Uber Technologies Inc. said Wednesday that it will comply with local regulations as it seeks to expand its presence in the tech-savvy South Korean market. “We will not launch products or services in Korea that do not comply with the regulatory framework,” said Barney Harford, [...]

Hyundai Motor, Luxi Team Up for Carpooling Service

Hyundai Motor, Luxi Team Up for Carpooling Service

SEOUL, Dec. 6 (Korea Bizwire) – Hyundai Motor is poised to branch out into the car sharing service industry in partnership with carpool service provider Luxi. The automaker signaled its foray into the carpool service market on Tuesday, after making a public announcement of Project Ioniq, a joint future mobility research project with Luxi to develop [...]

Seoul Bike City’s Most Popular Sharing Service

Seoul Bike City’s Most Popular Sharing Service

SEOUL, Jul. 31 (Korea Bizwire) — A new online survey has revealed Seoul Bike is the most popular government-operated sharing service among residents of Seoul. The survey, conducted by the Seoul Metropolitan Government last month with a sample of 2,500 Seoul residents, showed the satisfaction rate among users was over 91 percent, the municipal government [...]

Socar First to Reach 10 Million Reservations in South Korean Car Sharing Industry

Socar First to Reach 10 Million Reservations in South Korean Car Sharing Industry

SEOUL, Jul. 27 (Korea Bizwire) — South Korean car sharing service provider Socar has become the first company to reach a total of 10 million reservations in the industry, according to a statement released on Wednesday. From February 2012 until earlier this month, more than 10 million reservations were made, with the combined mileage estimated to [...]

New Policy Needed for Sharing Economy, Says Korea Development Institute

New Policy Needed for Sharing Economy, Says Korea Development Institute

SEOUL, Jul. 12 (Korea Bizwire) — The Korea Development Institute (KDI) released yesterday a report titled “Government Policy for the Stable Growth of the Sharing Economy”. The white paper presents an in-depth look at the sharing economy, and makes the proposal that current policies need to be modified to accommodate a changing service industry.   The seeds [...]

Seoul to Promote Bicycle and Car Sharing Services at Apartment Complexes

Seoul to Promote Bicycle and Car Sharing Services at Apartment Complexes

SEOUL, Jun. 22 (Korea Bizwire) — The Seoul Metropolitan Government announced plans on Wednesday to invest in public sharing economy infrastructure at apartment blocks in an effort to encourage the development of communities that share. Dubbed ‘Sharing Village’, Seoul’s new infrastructure project will see bicycle and car sharing facilities, which are often scattered around the city, [...]

South Korea’s $23-Billion Rental and Sharing Market Continues to Make Headway

South Korea’s $23-Billion Rental and Sharing Market Continues to Make Headway

SEOUL, May 22 (Korea Bizwire) – Last year, South Korea’s rental services market was estimated at 25.9 trillion won ($23.2 billion), up from 19.5 trillion won five years ago, according to the KT Economic Management Research Institute. By 2020, the market is expected to grow to a 40.1-trillion-won industry, researchers expect.  The boon in the [...]

Seoul City Launches Another Sharing Economy Support Project

Seoul City Launches Another Sharing Economy Support Project

SEOUL, Jan. 27 (Korea Bizwire) – The Seoul government is starting another sharing economy project, the third of its kind so far this year. Any companies or organizations of sharing economy businesses in Seoul can receive financial and administrative support by the Seoul government through its new project, ’2015 supporting project for sharing economy businesses and [...]