SoftBank-backed South Korean ride-hailer Tada gets rare win amid crackdown

Vehicles of ride-hailing service operator Tada parked at its garage in Seoul, South Korea, Feb 17. — Reuters

SEOUL: South Korea's ride-hailing service Tada, a smash hit since its launch just over a year ago, was cleared of transport law violations in court on Feb 19, a rare victory in a market that has been particularly unkind to ride-hailing companies.

Since starting up in late 2018, Tada has won 1.7 million users as it capitalised on growing demand and the funding muscle of its Japanese backer SoftBank Group Corp.