South Korea’s “Asia Daily” reported on October 20, according to South Korea’s “Chosun Ilbo” recently reported that the franchise taxi app “Kakao T Blue” operated by Kakao Mobility has 39% of the national legal person taxi licenses. This means that nearly 40% of taxis in Korea come from Kakao.
According to the information about Kakao Mobility received from the Fair Trade Commission on the 20th by Kim Hee-kun, a member of the National Power Party affiliated to the Council of State Administration of Korea indivual. Compared with 513 when Kakao launched its ride-hailing service in December 2019, the number of Kakao’s taxi licenses has soared by 64 times in the past two years.
The number of Korean taxi corporations dropped from 1,672 at the end of 2019 to 1,655 in August this year. In the past two years, 17 taxi companies have closed down. However, Kakao maintains an average of more than 10,000 licenses to join taxis per year and continues to increase its market share. Kakao Taxi’s monopoly on mobile apps is even more pronounced. According to data from mobile data analysis platform Mobile Index, as of 2020, the market share of Kakao Taxi app is as high as 95%.
Kim Hee-kun pointed out that the Korea Fair Trade Commission should thoroughly investigate whether Kakao Mobility abused its dominant market position and exacerbated the chaos in the Korean taxi market. There are observations that it is necessary to limit Kakao’s monopoly on the franchise taxi market. After Kakao expands its taxi business, the unfair risk caused by monopoly is increasing.
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