Arab Today, arab today department stores charge higher transaction fees to smaller vendors
Last Updated : GMT 02:05:12
Arab Today, arab today
Arab Today, arab today

Department stores charge higher transaction fees to smaller vendors

Arab Today, arab today

Arab Today, arab today Department stores charge higher transaction fees to smaller vendors

Seoul - Yonhap

Leading department stores in South Korea were found to have been charging small vendors more than 30 percent of their sales in transaction fees, the antitrust watchdog said Tuesday. According to the Fair Trade Commission (FTC), small and medium-sized vendors pay an average 31.8 percent of their sales in transaction fees to the top three department stores -- Lotte, Shinsegae and Hyundai. The result is based on an investigation into the contract terms of 73 vendors selling their products at those retail chains. They are mostly comprised of businesses that produce clothing and everyday goods. The findings were unveiled amid criticism that major department stores discriminate against small vendors by applying much higher commission fees or forcing them to pick up other expenses related to marketing and store interiors. Last week, the FTC said foreign luxury brands have been granted lower transaction fee rates, which can be as low as 15 percent. The watchdog has been at the forefront of an effort to crack down on unfair business practices in the retail sector, in line with a government push for \"shared growth\" between small and large businesses. FTC Chairman Kim Dong-soo recently said that his agency will launch a stepped-up investigation into the business terms between local department stores and their vendors as part of efforts to establish a fair trade environment in the retail sector. The FTC said that it will craft measures intended to help lower transaction fees in a way that could help smaller vendors, while at the same time continuing its investigation into any irregularities. It also promised to work hard to pass a bill that is intended to toughen the crackdown on large retailers that use their market dominance to force smaller vendors to accept unfair terms.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today department stores charge higher transaction fees to smaller vendors Arab Today, arab today department stores charge higher transaction fees to smaller vendors

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today department stores charge higher transaction fees to smaller vendors Arab Today, arab today department stores charge higher transaction fees to smaller vendors

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday