Lee Jae-myung: "We will disclose online platform fees and review their appropriateness"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, pledged on the 28th to disclose platform fees.

On the same day, through social networking services (SNS), Candidate Lee said, "Since COVID-19, the growth rate of online platforms represented by Nekarakubae (Naver, Kakao, Line, Coupang, Baedal Minjok) has accelerated," and added, "We will ensure that all fees imposed by online platforms above a certain scale are transparently disclosed."

He pointed out, "The problem is that transparency and fairness are not keeping up," and identified "fees" as a representative issue. Candidate Lee criticized, "There are many types of fees imposed by online platforms, such as sales fees, order management fees, simple payment fees, and even advertising costs... but the fee rates are not properly disclosed."

Referring to the fact that credit card companies disclose merchant fees, he stated, "Transaction costs must be transparently disclosed so that small business owners can trade fairly without being dependent on online platforms."

Additionally, he said, "Like card fees, the government will periodically review the appropriateness of fees," and added, "This will be usefully applied to ensure equal negotiations between online platforms and user companies."