Lee Jae-woong: "All Profits Gained from Tada's Growth Will Be Returned to Society"

"If the Tada Ban Law Passes, There Will Be No Way to Receive Investment"

Lee Jae-woong, CEO of Socar. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Jin-gyu Lee] Lee Jae-woong, CEO of Socar, announced on the 2nd that he will donate all profits gained from the growth of 'Tada' back to society.

On that day, Lee stated on his Facebook, "As the largest shareholder of Tada, if Tada grows well in the future and becomes a unicorn (a private company valued at over 1 trillion won) or goes public and gains profits, I will donate all those profits back to society."

He said, "I will make sure that the benefits from Tada's growth reach not only the colleagues who are building Tada together, the drivers, and taxi drivers, but also all young people in our society," adding, "I will look for concrete ways to do this." He also appealed, "Please give us the opportunity to create a new mobility platform model that does not exist anywhere else in the world."

Furthermore, he said, "It is enough if the platform I invested in and co-founded is loved by users, drivers, and employees who build it together, and can provide new value to our society," adding, "If I can provide better mobility choices to 1.7 million users, higher earnings to participating taxi drivers, protect grateful domestic and foreign shareholders who invested, and help aspiring young entrepreneurs who dream of innovation not to be discouraged, I have no further wishes."

Meanwhile, ahead of the National Assembly's consideration of the amendment to the Passenger Transport Service Act, commonly called the 'Tada Ban Law,' Lee once again requested the government and ruling party to scrap the bill. He lamented, "If the amendment passes the Legislation and Judiciary Committee on the 4th and the plenary session on the 5th, Tada will have to close its doors," adding, "I have contacted various domestic and foreign investors, but there is no way to receive investment after the Tada Ban Law passes."

He continued, "About 10,000 drivers who were responsible for the safe movement of others despite the difficult infection crisis will lose their jobs," and added, "Tada's young colleagues will lose the opportunity to dream."

He also urged, "Please allow innovative mobility companies to focus on doing business in the market rather than in the National Assembly or courts," and insisted, "Give us the opportunity to share the fruits of that with society."

This content was produced with the assistance of AI translation services.