Uber CEO says growth in South Korea promising despite underdog status [Video]

Uber Technologies’ CEO on Friday expressed commitment to the South Korean market, where it is an underdog to local tech group Kakao, and said the platform will attract more taxi drivers for growth.

“The fact is that a taxi driver who uses the Uber app will make more money, will be more busy,” Uber CEO Dara Khosrowshahi told reporters in Seoul.

“We are growing significantly faster than the market, and we’re confident that our market share will only grow from here.”

Kakao has a more than 90% market share of taxi-hailing, estimated based on app usage data.

Uber first entered the South Korean market in 2013, but pulled out due to regulations that only allow companies with taxi licenses to offer ride services.

In 2021, Uber re-entered the market by setting up a joint …