An increasing number of cities are engaging with the sharing economy, exploring how it may be integrated into the urban agenda, fostering its positive aspects whilst avoiding its negative externalities. The paper focuses on two cities, Milan and Seoul, that are internationally considered to have a conscious and tailored approach that lies in the vanguard of this effort. The paper seeks to understand how local authorities govern the sharing economy in order to shape a real sharing city, taking insights from the sharing paradigm concept and looking to the collaborative version of the urban governance paradigm. The paper uses a mixed method approach to develop case studies of the governance models employed. The analysis shows that both cities work along the three dimensions (economic, technological and human) of the sharing paradigm to create a sharing city, with slightly different governance approaches, but both lack institutionalized mechanisms of collaboration. Nevertheless, both are pioneering examples of engagement with the sharing economy. The paper proposes a graphic conceptualization of the two governance models to better highlight their contribution to knowledge.