Time Magazine predicted back in 2011 that ″Sharing economy″ was one of ten factors
that would change the world.
Four years later， there is Uber， AirBnB， and Zipcar...
so yes， it may be safe to say that Time was right.
But， this is not limited to the United States...
Sharing economy is also a trend that′s been spreading throughout Seoul； simply by a
touh of a button， you can share rooms， cars， clothes and even parking space.
Our Oh Soo－young tells us more.
Sharing economy was first introduced in 1984 through a dissertation in the United States.
30 years later， it is on its way to becoming a brand new economic model as it integrates
with IT and modern technology.
″Sharing economy serves as a platform for sharing extra commodities with others online
or through their smartphones.″
In recent years， sharing economy in Korea is making its way into our daily lives in
various forms.
This sharing culture has been flourishing in Seoul， which was even labeled by Forbes
Magazine as one of the world′s ‘sharing capitals’ in 2014.
″Korea′s cultural， social and work－related norms contribute to the sharing boom.
Combined with Information and communications technology， we can see Korea′s own exquisite
model of sharing economy take shape.″
This is a place in eastern Seoul where sharing economy is taking its course in form of a
redistribution market system， which reuses pre－owned goods.
There are hundreds of donated suits， ties and shoes laid out for you to pick and choose
from， just like your personal wardrobe.
Complete with a pair of heels， you can borrow an entire outfit for less than 27 U.S. dollars...
and that′s for four days This way， clothes that were left in the
back of someone′s wardrobe are now on the racks to be worn by countless others for any
special occasion－ from weddings to job interviews.
″I came to borrow a suit for an interview for graduate school.″
″I suddenly got a job interview and I couldn′t buy a suit right away so I came to borrow
one instead.
I have another interview next week so I′ll be back.″
″Buying a suit for the first time can be expensive and stressful when you don′t know
where to start looking and what′s right for you... we provide a low cost solution
for these concerns.″
Finding somewhere to park is a daily challenge in the big city.
But a smart phone application solves this headache by allowing users to share their
personal parking spots in a ‘product－service system’ where consumers pay to have access
to a product.
″As IT and sharing economy come together， parking in the city becomes a new， hassle－free
experience.″
″Users can register their parking spots on our app while they′re not using them
and earn the parking fees paid by those who use the space.″
Drivers can use the application to find the closest and cheapest parking spot in the vicinity.
″On the application， you click the area you′re heading to.
Tha