Taking the Seoul Train to the Sharing Economy Part II

Editor’s Note: The Sharing Economy is about a profound shift in consumer values from ownership to access. Together, entire communities and cities around the world are using network technologies to do more with less by renting, lending, swapping, bartering, gifting and sharing products on a scale never before possible. A wide variety of sharers are involved, from Tool Libraries and Maker Faires through to Car-shares and the open government movement. Organizations like Collaborative ConsumptionPeers and Shareable are working to foster the sharing economy. SiG believes that this movement is a force for social innovation and systems change. In this spirit, SiG will produce blogs and grow a knowledge base highlighting the people and concepts emerging out of the sharing economy.

 

pan-gyo3Seoul is earning a reputation as one of the world’s most developed sharing economies. South Korean citizens and civil servants support the development of the sharing economy because it addresses issues inherent in high-density cities like overpopulation and housing shortages. In the course of one day criss-crossing Seoul’s vast metropolitan area by efficient public transit, I was able to visit three very different new sharing economy ventures that boast stories illustrating the value of the new national and municipal policies enabling the sharing economy. In Part I, I outlined the enabling government environment and my visit to Dream Bank. The second sharing economy venture, My Real Trip, is featured in this post and Kozaza will follow in Part III.

 

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My Real Trip

Having the benefit of an extensive and spectacularly well-organized subway system (the second most used in the world), I was able to travel rapidly many miles out to the new suburban innovation hub in Pan-gyo from the Seoul city center. Referred to as Pan-gyo Techno Valley (PTV), it is Korea’s bespoke answer to Silicon Valley. The government has facilitated the construction of block after block of gleaming new office towers, which by 2015 will support a population of 80,000 people and house the country’s leading hi tech ventures.

 

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Pan-gyo Techno Valley

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Korea’s Silicon Valley

 

I visited the brand new tower of NEOWIZ, a successful gaming company that is creating an incubation environment for new start-up technology ventures. There we met the co-founder of My Real Trip, Donggun Lee, a serial entrepreneur whose first venture was a successful crowdfunding platform.

My Real Trip, similar to Peek (an online portal connecting travellers to local curated travel experiences), allows Korean-speaking travellers access to a global network of guides in 130 cities around the world. Geared to the cultural interests of Asian travellers, a local actor in New York might act as a guide for a Broadway tour. Elsewhere, a guide in Vancouver provides a Caffeine Crawl of that city’s unique and diverse scene of coffee shops.

My Real Trip creates income opportunities for part-time guides and full-time guides allowing the guides to set their own rate and retain more income than they would if employed by a mainstream touring company.

 

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Visiting My Real Trip Team

 

My Real Trip is in rapid growth mode, having started in mid-2012 it has already supported 5,800 travellers in 123 cities. It expects to reach 10,000 by the end of 2013. My Real Trip benefitted from six months free rent in the NEOWIZ tower ecosystem before becoming a paying tenant.

The emerging global network of sharing cities is accelerating people’s ability to ingeniously adapt to new forms of urban living while at the same time reducing their environmental footprint. Stay tuned for part III’s train to Kozaza sharing economy venture.

 

IMG_2463Note: Thanks very much to April Rinne, from The Collaborative Lab, who introduced me to two Seoul members of TCL’s Global Curator Team, DaYe (Diane) Jung and Seokwon (ejang) Yang. They in turn connected me with our indispensable guide Seokjoon Choi. Seokjoon navigated us through Seoul with great aplomb.

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Tim Draimin About Tim Draimin

Tim Draimin is the Executive Director of Social Innovation Generation (SiG)

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