Coop Taxi Seoul
= "The unique value of CO*OP Taxi is that it allows drivers to be owners of the system itself".
By Leila Collins:
"Former lawmaker Park Gye Dong, chairperson of CO*OP Taxi, developed a system to give drivers an alternative to the exploitation of taxi companies. The system brought together 184 cooperative members who together invested 4 billion won ($3.3 million). Each driver invests at least 25 million won ($21,413) to become a part of the cooperative, and then receives a dividend proportionate to the initial investment as well as profits earned. In contrast to the traditional system, there are no daily fees that force drivers to share their daily earnings with the company." (http://www.shareable.net/sites/default/files/SharingCities_FullBooktoPDF_v2%281%29.pdf)
• As of August 2016, there were 76 taxis in the co-op, with a total of 182 cooperative members.
• These drivers now enjoy better working conditions, as they are able to work only five days a week, instead of the industry standard of six."