Policy development of sharing economy in Korea: Case of home-sharing

Abstract

Sharing economy companies such as Airbnb and Uber have experienced exponential growth in popularity in recent years. The sharing economy is an emergent economic-technological phenomenon fostered by the developments in Information Technology. The paper attempts to address the problem of regulation in sharing economy in the field of home-sharing. Based on the results from interviews with the regulators in the central and provincial governments of Korea and the Public Policy Managers of Airbnb, we identify and suggest policy considerations and strategies for sharing economy in Korea. Our results not only help in understanding the policy developments in the field of sharing economy, but also help in developing the required robust policy and legal framework to support and strengthen the sharing economy in Korea.