South Korea's government-led talks yield reduced fees for food delivery services

( November 14, 2024, 09:18 GMT | Official Statement) -- MLex Summary: South Korea’s government-led negotiations between food delivery services and their vendors has resulted in an agreement on proposed commission rates. The two sides settled on a tiered rate system, lower than the current 9.8 percent, with rates varying based on revenue levels. On both platforms, restaurants in the top 35 percent of revenue will have a 7.8 percent commission, lower than the current 9.8 percent, with delivery fees between 1,900 won and 2,900 won. The middle group will have a 6.8 percent or 7.8 percent with delivery fees varying based on different revenues. The bottom 20 percent will pay 2 percent commission, with delivery fees between 1,900 won and 2,900 won.The statement, in Korean, is attached....

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South Korea's government-led talks yield reduced fees for food delivery services

Prepare for tomorrow’s regulatory change, today

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