South Korea bans ride-hailer in win for taxi lobby

President Moon had touted Tada as an innovator but failed to save it

20200310N Tada

South Korean ride-hailer Tada operated a fleet of 1,500 vans. © Reuters

KOTARO HOSOKAWA, Nikkei staff writer

SEOUL -- A new law in South Korea that essentially bans a popular ride-hailing service has passed after a concerted lobbying campaign by the taxi industry. 

It deals a serious blow to entrepreneurship promotion efforts by President Moon Jae-in, who cited the service as an exemplar of innovation.

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