- Title: South Korea set to curb Google, Apple commission dominance
- Date: 24th August 2021
- Summary: MOUNTAIN VIEW, CALIFORNIA, UNITED STATES (FILE) (REUTERS) EXTERIOR OF GOOGLE HEADQUARTERS WITH GOOGLE SIGNAGE PEOPLE WALKING PAST GOOGLE HEADQUARTERS VARIOUS OF GOOGLE SIGNAGE NEW YORK, NEW YORK, UNITED STATES (FILE - JULY 30, 2020) (REUTERS) APPLE STORE ON MANHATTAN'S UPPER WEST SIDE MAN LOOKING AT PHONE INSIDE APPLE STORE APPLE LOGO ON STORE EXTERIOR
- Embargoed: 7th September 2021 10:13
- Keywords: Apple Google National Assembly Seoul South Korea law parliament
- Location: SEOUL, SOUTH KOREA / MOUNTAIN VIEW, CALIFORNIA, NEW YORK, UNITED STATES
- City: SEOUL, SOUTH KOREA / MOUNTAIN VIEW, CALIFORNIA, NEW YORK, UNITED STATES
- Country: South Korea
- Topics: Asia / Pacific,Company News Markets,Economic Events
- Reuters ID: LVA003ERN0V2F
- Aspect Ratio: 16:9
- Story Text:South Korea is likely to bar Google and Apple from requiring software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases, the first such curbs on the tech giants by a major economy.
The parliament's legislation and judiciary committee is expected on Tuesday (August 24) to approve the amendment of the Telecommunications Business Act, dubbed the "Anti-Google law," that takes aim at app store operators with dominant market positions.
If the bill gets the committee's approval, it will be put to a final vote on Wednesday (August 25). Lawmakers in South Korea have pushed the issue of the commission structure since mid last year.
Alphabet Inc's Google and Apple Inc were not immediately available for comment. Both companies have faced global criticism because they require software developers using their app stores to use proprietary in-app payment systems that charge commissions of up to 30% on in-app purchases.
(Production: Dogyun Kim, Hyunyoung Yi, Minwoo Park) - Copyright Holder: FILE REUTERS (CAN SELL)
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