Gyeonggi-do Signs Business Agreement with Private Delivery Apps Ttaenggyeoyo and Meokkkaebi Offering Brokerage Fees Below 2%
Shinhan Bank Grants Public Delivery App Status to 'Ttaenggyeoyo' and 'Meokkkaebi' for 2 Years
Active Consumer Inflow to Public Delivery Apps Below 2% via Connection to Gyeonggi Local Currency Payment System
‘Ttaenggyeoyo’ by Shinhan Bank and ‘Meokgaebi’ by Meokgaebi Co., Ltd., selected as private-public partnership delivery app operators promoted by Gyeonggi Province, will be able to accept Gyeonggi local currency as early as January next year.
Goh Young-in, Vice Governor of Gyeonggi Province for Economic Affairs (center), signed a "Memorandum of Understanding (MOU) for the Activation of Gyeonggi Province Public Delivery App" with Lim Soo-han, Vice President of Shinhan Bank Co., Ltd., and Kim Joo-hyung, CEO of Meokkebi Co., Ltd., at the Gyeonggi Provincial Government Office on the 29th of last month. Provided by Gyeonggi Province
On November 29, Gyeonggi Province Deputy Governor for Economy Ko Young-in signed a Memorandum of Understanding (MOU) for the activation of public delivery apps in Gyeonggi Province at the Gyeonggi Provincial Government office with Im Su-han, Vice President of Shinhan Bank (President: Jeong Sang-hyeok), and Kim Ju-hyung, CEO of Meokgaebi Co., Ltd.
According to the agreement, each institution will hold the status of public delivery apps within Gyeonggi Province from 2025 to 2026. Gyeonggi Province plans to collaborate with cities and counties by December to link these private delivery apps with the Gyeonggi local currency payment system, enabling the use of local currency as early as January next year.
This project was promoted to revitalize the private delivery app market operating with brokerage fees under 2%, in order to support small business owners whose profit structures have deteriorated due to high brokerage fees (9.8%) and delivery costs charged by private app companies.
The province expects that cooperation with private app companies will alleviate the burden on small business owners and expand the choices available to delivery service users. In particular, the focus was on establishing a virtuous cycle ecosystem in the delivery market that benefits both consumers and small business owners.
According to the province, if private delivery apps with brokerage fees under 2% use the Gyeonggi local currency payment system, it will not only increase sales for these private delivery apps but also activate the use of local currency. As sales of private delivery apps with fees under 2% increase, the use of these delivery apps will naturally rise, reducing the high brokerage fee burden on small business owners.
Deputy Governor Ko Young-in said, “This agreement is meaningful in that the public delivery app project, which has been led by Gyeonggi Delivery Special since before, has now been established as a cooperative project with the private sector. We will continue to promote various policies to reduce the economic burden on residents and revitalize the local economy.”
Meanwhile, Ttaenggyeoyo is a delivery app operated by Shinhan Bank, characterized by a low 2% fee and fast settlement service. Meokgaebi is a public delivery app operated by 13 local governments including Seoul, charging small business owners a brokerage fee of 1.5%.
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