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No Uber Or Airbnb In South Korea: Red Tape, Risk-aversion Hobble Start-ups | Reuters

by reuters.com posted 1month ago 30 views
* Korea struggling to steer away from chaebol-focused economy. : SEOUL (Reuters) - When Choi Ba-da pitched his car-sharing firm Luxi to Hyundai Motor officials in 2017, he told them there would be no future for South Korea’s top automaker if it failed to embrace emerging technologies. His pitch worked: Hyundai agreed to buy a 12 percent stake in Luxi for $5 million, its first investment in a car-sharing firm as it joined rivals in the race for new-age transportation.