South Korean regulator threatens Google, Apple with up to $50.5 million fine. Here’s why – Crypto News – Crypto News
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South Korean regulator threatens Google, Apple with up to $50.5 million fine. Here's why South Korean regulator threatens Google, Apple with up to $50.5 million fine. Here's why

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South Korean regulator threatens Google, Apple with up to $50.5 million fine. Here’s why – Crypto News

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South Korea’s Korea Communications Commission (KCC) has threatened to fine Google and Apple up to $ 50.5 million for abusing their dominant position in the app market. The commission argues that both the tech giants have abused their dominant position in the app market to force app developers into specific payment methods while also causing unfair delays in app review. 

According to a Reuters report quoting KCC statement, the regulatory authority has notified both the companies about the coercive action and will deliberate on the fines. KCC will decide on imposing fines of up to 68 million won or nearly $50.47 million after hearing from Apple and Google. The fine includes 47.5 billion won for Google and 20.5 billion won for Apple. 

South Korea had passed an amendment to the Telecommunication Business Act that forbade app store operators like Google and Apple from forcing app developers to user their payment systems. 

The KCC says that Google and Apple’s enforcement of certain payment methods is likely to undermine the purpose of the new law, which is to promote fair competition.

Google’s regulatory troubles: 

The regulatory issues in South Korea are in addition to Google’s troubles in its home country. US Justice Department has brought an anti-trust case against Google over allegations that the tech giant smothered over the competition by paying companies like Apple, Verizon and others in order to make its search engine the first that users see when they open their devices.

Regulators argue that Google pays around $10 million to smartphone companies like Apple in order to have its software as the default search engine on their devices.

Google has argued that it dominates the search engine market because it is better than the competition while noting that users have the option of switching to other search engines with a couple of clicks.

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Updated: 06 Oct 2023, 10:43 AM IST

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