The approval rate is as high as 98.8%! South Korea's "Online Platform Fairness Act" has sparked heated discussions

According to Korean media reports, most small business owners who use online trading platforms such as online shopping malls and delivery applications support the formulation of an "Online Platform Fairness Law."

It is reported that the bill initiated by the FTC aims to prevent unfair trade between commercial operators and enterprises and strengthen consumer protection .

The Korea Federation of Small and Medium Businesses said on the 31st that it conducted a survey of 1,000 companies in December last year , including 500 companies in open markets and 500 companies in delivery apps. The survey results showed that 98.8% of companies in open stores and 68.4% of companies in delivery apps supported the "Online Platform Fairness Act" proposed by the Fair Trade Commission.

As for the reason for the support, the most common response among open market tenants (39.5%) and delivery application tenants (51.2%) was that "a specific basis for responding to unfair trade practices has been prepared . "

The most selected item for improvement in the development of fair laws for online platforms was fee limits or guidelines .

Companies operating on online trading platforms responded that sales through online shopping malls and delivery apps have gradually increased, but many people feel burdened by high handling fees and advertising costs.

Based on last year’s statistics , the sales proportions of online shopping malls and delivery application companies through online trading platforms were 45.6% and 56.6% respectively.

69.0% of public market companies responded that they were satisfied with product display opportunities, but they were less satisfied with sales commissions and advertising costs, at 36.8% and 35.6% respectively.

Among companies that have settled in delivery apps, 63.2% believe that the levels of handling fees and advertising fees are too high.

The main trading platforms for companies entering the open market are Coupang (36.2%) , 11th Street (11.9%) , WeMef (13.4%) and Gmarket (11.0%).

In terms of delivery app stores, “Food Nation” accounted for more than half at 57.6%, followed by Yoyoyo (26.0%) , Wemepo (7.0%), Delivery Box (5.8%) and Coupang Itz (3.6%) etc.

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