( November 8, 2024, 05:14 GMT | Official Statement) -- MLex Summary: South Korea's government-led negotiations over food delivery app fees collapsed this week, after major platforms failed to meet mediators' guidelines calling for an average fee cap of 6.8 percent, a 2 percent rate for the bottom 20 percent of merchants and lower maximum rates than the current 9.8 percent. Restaurant groups had sought fees of 2-5 percent based on revenue levels, while Baedal Minjok offered a 2-7.8 percent tiered structure and Coupang Eats proposed a 2-9.5 percent structure with increased delivery fees. While smaller issues like receipt transparency were resolved, the committee has given the platforms until Nov. 11 to submit better proposals on the issue of commission rates.The statement, in Korean, is attached....
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