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South Korea’s government has officially approved three major taxi-hailing service brands as platform operators, namely are Kakao T of Kakao Mobility, Banban Taxi of Kornatus, and i.M. Taxi of Jin Mobility to diversify means of transportation said the Ministry of Land, Infrastructure, and Transport.
The country's revised Automobile Transport Business Act requires transportation platform operators to register at the Land Ministry before they can charge brokerage commission to users.
Kakao Mobility will charge up to 3,000 won for customized, high-end hailing services, which should increase up to 5,000 won when the taxi allocation rate falls under 60 percent for 10 consecutive minutes.
Kornatus and Jin Mobility would also charge up to 3,000 won, depending on the supply and demand.
The South Korean government will continue to expand the customers’ choice and contribute to the transportation industry's development, said a ministry official.
