South Korean President Yun Seok-Yeol: ``Kakao's brutality against taxis is extremely immoral...We will definitely impose sanctions'' - South Korea

On the 1st, President Yoon Seo-gyeol strongly stated, ``Kakao's brutality against taxis is extremely immoral.The government must take measures such as sanctions against immoral behavior.''
I tuned it. President Yoon said that a taxi driver who attended a ``Civil Welfare Town Hall Meeting'' held at a cafe in Mapo District, Seoul, said, ``
"Kakao Taxi's tyrannical behavior by taking advantage of its monopolistic position is terrible," he said when asked to propose lowering call fees and preventing bulk ordering of calls.
President Yoon said, ``As mentioned in the theory of monopoly and oligopoly, even if it is a so-called predatory price, some people receive little or very little money.
"The method is to set a low price, eliminate all competitors, keep bringing in (competitors), completely control the market, and then raise the price when you have a monopoly."
He added, ``This is not because they jumped into the market by clearly stating the amount of money they would receive from the beginning, but because they had provided incentives and then raised the price.
It is a virtuous action. The government must impose sanctions." President Yoon told the State Councilors who participated in the event that day, ``This is a very immoral act of monopoly and oligopoly.''
That's an action. I hope that we will definitely take measures regarding this."