South Korean President Commits to Alleviating Delivery Commission Fees for Small Vendors
Click to start listening
Seoul, Dec 2 (NationPress) South Korean President Yoon Suk Yeol expressed his commitment on Monday to roll out initiatives designed to alleviate the financial pressure on small merchants stemming from delivery app commission charges, as part of a strategy to invigorate sluggish domestic consumption.
During a public policy forum, Yoon emphasized the need for measures that would support small vendors by tackling various business hurdles such as inflated delivery fees, frequent no-shows, and harmful online reviews, according to the Yonhap news agency.
He highlighted that the government has earmarked a record-breaking 59 trillion won ($42 billion) in the upcoming fiscal budget to assist small enterprises and self-employed individuals, aiming to boost domestic demand and consumption.
"The government will extend unprecedented support to small merchants and the self-employed, as their challenges remain largely unaddressed," Yoon stated during the discussion held in Gongju, located approximately 120 kilometers south of Seoul.
Yoon proposed a reduction of over 30 percent in delivery commission fees for micro business owners within a span of three years, along with a complete exemption of these fees for all traditional markets.
Additionally, he revealed plans to introduce measures later this month aimed at decreasing the current commission rates for mobile gift certificates, which range between 5-15 percent, and to expedite the often lengthy payment settlement periods.
In light of the projected annual losses amounting to 4.5 trillion won due to no-shows, Yoon promised the establishment of a reservation deposit system to ease the burden on businesses, alongside the creation of consumer dispute resolution standards.
To tackle the issue of damaging online reviews from customers, Yoon announced the establishment of around 90 consultation centers dedicated to addressing such concerns swiftly.
