Lee Jae-woong "Excessive Protection of Taxis... Government Opposes 'Innovative Growth'"
Lee Jae-woong, CEO of Socar, attended the discussion titled 'Ban the Ban on Tada Law'. Photo by Yonhap News
View original image[Asia Economy Reporter Buaeri] As the passage of the amendment to the Passenger Transport Service Act, known as the 'Tada Ban Law,' is delayed in the National Assembly, Lee Jae-woong, CEO of Socar, has launched a counterattack. On the afternoon of the 16th, Lee attended an emergency discussion titled 'Ban the Tada Ban Law' held in Gangnam-gu, Seoul, and questioned the government's policy direction by asking, "Is it right to excessively protect the taxi industry?"
Lee said, "In fact, an important pledge of our government was innovative growth," and explained, "Whether the government should regulate or not, innovation from the perspective of innovative growth means introducing something new that is not contained in the existing system."
He added, "As the government has stated several times, a 'comprehensive negative (regulation)' approach is correct, so isn't it wrong to try to go in the opposite direction?"
Lee stated, "Sharing economy, artificial intelligence (AI), and others are part of the 4th industrial revolution, and even if blocked, they are the inevitable future," and added, "Protecting (taxi drivers) is one role, but if they are excessively protected, industries that can create the future may not be able to thrive."
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Lee also posted on Facebook the day before, saying, "In December last year, Seoul's private taxis recorded their highest-ever monthly sales of 174 billion won," and "Seoul taxi sales in 2019, which were claimed to be harmed by Tada, actually grew steadily." He even presented the results of an information disclosure request. This statement was made in awareness of President Moon Jae-in's New Year's press conference remark that "while maximizing the interests of existing taxi operators, we will also help innovative companies like Tada to enter the market."
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