It does? Why? I've never heard of that. Where I'm from, taxi regulations are basically a more stringent driver's license, insurance, inspected taxi meter, and standardized/consumer-friendly presentation of the pricing. If a taxi wants to charge $100/km then that's up to them, but it has to be clearly displayed in the taxi window so the customer can avoid them.
As far as I know, most cities regulate fares. Seoul (the city in the article) certainly does, as according to a survey done by some economists, so do most cities in the US. Same here in Lisbon.
