The government has revealed plans to slash credit card commission fees for small merchants in South Korea, including restaurants or convenience stores, that opened in the first half of this year.
The Financial Service Commission says around 48 million U.S. dollars will be returned to nearly 230-thousand small businesses.
This is in line with the amendment to the supervisory regulations for the credit finance industry,... which took effect in January.
This is the first time such a system has been put in place for newly-opened small businesses.