Annual Profit Expected to Increase by 290,000 KRW per Retailer
Dongjak-gu, Seoul (Mayor Park Ilha) announced on the 11th that starting this month, the commission rate for selling volume-based waste bags will be increased while maintaining the consumer price, aiming to promote coexistence between retailers and residents.
Last March, the district introduced a credit card payment system to reduce the burden on retailers purchasing volume-based waste bags with cash. However, to address the issue of still low sales profits, the district revised the "Dongjak-gu Waste Management Ordinance Enforcement Rules" last month and raised the commission rate from the previous 7% to 9%.
While keeping the consumer price the same to avoid passing financial burdens onto residents, the profit for small business retailers was increased. The district expects that this increase will raise the annual profit by about 290,000 KRW per designated retailer within the district.
Mayor Park Ilha said, “We hope that the increase in the commission rate for volume-based waste bags will alleviate the economic burden on small business owners and self-employed people in the district,” adding, “We will continue to carefully address even the small difficulties of the local commercial area and do our best to make Dongjak-gu a better place to live.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.


