The South Korean government has withdrawn a plan to cap the fees credit card issuers can charge small and midsize retailers, according to an official from the Credit Finance Association of Korea.

Lawmakers had earlier considered limiting interchange rates under a revision of the country's Credit-Specialized Financial Business Law.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.