Commission Archives | Be Korea-savvy
Government Imposes Higher Commission on Duty-Free Store Operators

Government Imposes Higher Commission on Duty-Free Store Operators

SEOUL, Dec. 9 (Korea Bizwire) – Operating a duty-free store is a highly lucrative venture, and the few five-year licenses granted by the government are usually hotly contested. However, authorities have finally decided to raise the special commission imposed on duty-free store operators, which has been frequently criticized for being unusually low, by up to [...]

S. Korea Card Firms Mull Legal Action against Visa on Fee Hikes

S. Korea Card Firms Mull Legal Action against Visa on Fee Hikes

SEOUL, July 6 (Korea Bizwire) – A group of South Korean credit card companies said Wednesday they will consider taking legal action against Visa Inc. following the global payment network company’s recent decision to raise the card fees it receives from Korean card issuers starting next year.  In May, Visa notified Korean card firms that [...]

Korean Credit Card Companies Protest Visa’s Plans to Raise Rates

Korean Credit Card Companies Protest Visa’s Plans to Raise Rates

SEOUL, June 13 (Korea Bizwire) – Korea’s eight major credit card companies (KB, Lotte, BC, Samsung, Shinhan, Woori, Hana, Hyundai) are planning to send an official letter to Visa Inc., protesting its plans to raise the commission for Korean customers’ international transactions. Visa notified the Korean companies in May of its plan to raise the [...]