May 19, 2020

Airbnb supports NSW home sharing regulation

New South Wales
Sam McDonagh
Airbnb Country Manager for Australia
Harry Allan
2 min
Airbnb supports NSW home sharing regulation

The New South Wales (NSW) Government has just announced its decision to support home sharing and has moved into the final stage of consultation in creating regulations for the state. Airbnb has signalled its support for this legislation. 

Sam McDonagh, Airbnb Country Manager for Australia, said: "We welcome the NSW Government’s decision to support innovation and home sharing, and to move to the final stage of consultation about balanced regulations in this state.

“Yesterday’s announcement, which supports the parliamentary committee’s report and recommendations, is a strong, positive step towards ensuring fair and progressive rules and regulation for residents and visitors to NSW who make the most of home sharing.

He also highlighted that Airbnb will continue to work with the state Government and stakeholders to help provide certainty to NSW residents, while adhering to short term rental regulations that are easy to understand.

“The NSW Government is absolutely right in making moves to crack down on bad behaviour,” he asserted. “We will happily stand beside them to support regulations which ensure people’s rights to respectfully and responsibly share their homes are protected.”

“What we’ve heard loud and clear from NSW residents who list their homes or book Airbnb listings for their travel, is that they love the range of choice, availability and affordability Airbnb provides,” he added. “Home sharing through Airbnb expands accommodation supply beyond the traditional hotel hubs, increases availability during peak travel periods, reduces visitor accommodation costs, and gives consumers a “live like a local” experience unlike anywhere else.”

He highlighted that in the last year, Airbnb guests contributed more than $750 million to local businesses across the NSW are which, he claimed, supported more than 4,450 local jobs. “Yesterday’s announcement is a step closer to continuing this economic growth and diversifying tourism across the state,” he added.

“With the vast majority of NSW listings located outside traditional hotel districts, our guests live like locals, spending money at neighbourhood cafes, shops and restaurants not normally visited by tourists,” he added. “In fact, in 2015-16, around half of the 40,000 Airbnb listings in NSW were outside the greater Sydney region and located in neighbourhoods across regional NSW. This includes listings in popular Airbnb guest destinations such as Byron Bay, Nowra, Newcastle and Wollongong.

“We appreciate that these things take time and that it’s important to get the balance right. We’re confident that Premier Berejiklian and the NSW Government will join the state Governments in Tasmania and South Australia, in embracing home sharing, and introduce fair regulations that allow more people in NSW to share their extra space,” he concluded. 

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Jun 13, 2021

Seo JungJin: Who is EY’s World Entrepreneur of 2021?

Kate Birch
3 min
From just US$45,000 capital in 2003 to a world-leading biopharma giant with revenues of US$1.69bn today, Seo JungJin is crowned EY World Entrepreneur 2021

Seo JungJin, founder of biopharma firm Celltrion, which most recently developed an antibody treatment for COVID-19, has been named the EY World Entrepreneur of the Year 2021, becoming the first South Korean in the award’s 21-year history.

Regarded as one of the world’s most prestigious business awards program for entrepreneurs, the EY Entrepreneur of the Year celebrates visionary and innovative leaders from across 60 countries who are transforming the world and fostering growth.

JungJin, who is now honoroary chairman of Celltrion Group, was up against a worthy cast of entrepreneurial competitors, taking the crown from among 45 award winners across 38 countries and territories.

Speaking during the virtual event, JungJin described his own interpretation of entrepreneurship as something that brings together “a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good”.

Why was JungJin crowned King Entrepreneur?

A South Korean native and now 63 years of age, JungJin founded biopharmaceutical firm Celltrion in 2003. In the nearly two decades since its founding, Celltrion has lived up to its goal of advancing health and welfare for all by developing ground-breaking drugs to treat autoimmune disease, various forms of cancer and, most recently, COVID-19.

The company, which JungJin started with just US$45,000 and five of his colleagues, has since growth to more than 2,1000 employees with sales permits in more than 90 countries and revenues exceeding US$1.69bn.

According to the panel, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world with the pandel moved by both his incredible story and his purpose-driven leadership, innovative mindset and entrepreneurial spirit.

Described by the chair of the EY judging panel Rosaleen Blair as “representing everything an unstoppable should be” from taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin’s story is one of incredible tenacity and perseverance that the judging panel felt most represented the entrepreneurial spirit.

“He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies,” says Stasia Mitchell, EY Global Entrepreneurship Leader. “His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment.”

How did JungJin get there?

JungJin's entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. before losing his job amid the carmaker’s financial troubles following the 1997 Asian economic crisis.

Following this, JungJin started collaborating with colleagues to explore business opportunities in different industries, though none delivered lasting success. The turning point came after he attended a talk hosted by renowned scholars, which inspired him to focus on the biopharmaceutical sector.

And so he founded Celltrion with just US$45,000 of his savings. The launch of Remsima, credited with being the world's first antibody biosimilar, quickly moved Celltrion up the ranks of the country's fairly underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that today are being used worldwide.

With ambitions to be the world’s first in different areas, Celltrion has pioneered numerous uncharted areas to great success over the past two decades, most recently responding to the global pandemic by successfully developing an antibody treatment for COVID-19 and working to ensure a timely supply of the safe and effective treatment.

“When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives,” explains JungJin. “The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive.”


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