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S. Korea: Gov't to Roll Out Measures to Resolve Problems in Taxi Industry
Source: world.kbs.co.kr
Source Date: Thursday, November 22, 2012
Country: Korea (Republic of)
Created: Nov 27, 2012

The South Korean government is being proactive in devising comprehensive measures to resolve the fundamental and chronic issues facing the taxi industry.

The Ministry of Land, Transport and Maritime Affairs has decided to come up with structural reform plans to address South Korea's overabundant cabs and revise plans to overhaul the licensing system for individually-owned taxis that are not managed by a company.

It plans to conduct a study to find out the appropriate number of taxis that should be on the streets nationwide and how to evenly reduce the number over a five-year period.

The ministry will also come up with realistic financial measures to reduce the number of individually-owned cabs in the nation, which is the main reason behind the oversupply of taxis.

It will also revamp the taxi fare system by setting a target fare over a five-year period, considering taxis are a high-end mode of transportation.
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