Thursday, December 25, 2014

MERRY CHRISTMAS Uber CEO Indicted in South Korea

File under: Protecting the entrenched operators.

South Korea has indicted the chief executive officer and local subsidiary of Uber Technologies Inc for violating a law governing public transport.

The Seoul Central District Prosecutors’ Office issued the indictment against CEO Travis Kalanick and the firm’s Korean unit for violating a law prohibiting individuals or firms without appropriate licenses from providing or facilitating transportation services, an Uber spokeswoman said.

“We firmly believe that our service, which connects drivers and riders via an application, is not only legal in Korea, but that it is being welcomed and supported by consumers,” Uber said in its statement on Wednesday.

Prosecutors will not make any arrests under the indictment, South Korea’s Yonhap News Agency reported.

The penalty for breaking the law in question is a prison sentence of up to two years or a maximum fine of 20 million won ($18,121).

Uber’s spokeswoman said Uber services are functioning as normal, in the country.

(via Fortune)


  1. Pay a $18,000 "fine" to the extortionists and carry on with business as usual ... sounds like a no-brainer decision to me.

  2. The entrenched monopolies enlist government to be their enforcers against competition who offer a superior product/service and/or superior price. The Mafia never had it so good.

    One can imagine what would have happened if government had functioned the same way when the telephone came onto the market. Western Union would have gotten their government cronies to declare the telephone illegal or unsafe and that would have been the end of it.