South Korea’s telecommunications regulator said on Tuesday it plans to launch an investigation into app store operators such as Apple, Alphabet’s Google and One Store over suspected violations of in-app payment law.
Potential fines for infractions could be as high as 2% of the average annual revenue from related business practices, the law says. The regulator didn’t specify the scale of any possible fines in this instance.
Under the law passed last year and in effect since March, major app store operators such as Google and Apple are banned from forcing software developers to use their payment systems.
Read More: South Korea Approves App Store Law Targeting Big Tech Payment Systems
The Korea Communications Commissions (KCC) said in a statement it had conducted an inspection since May 17 to determine whether Google, Apple and One Store had violated the rules and had determined that all three might have done so.
In a statement, a Google spokesperson said: “We have worked closely with government stakeholders and our developer community to expand user choice in Korea in compliance with the new law, while continuing to ensure we can invest in the ecosystem and provide a safe and high quality experience for all.
“As we have at each stage of this process, we’ll continue to cooperate with the KCC.”
Apple and One Store were not immediately available for comment when contacted by Reuters.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI