Online platform operators to face stern measures over unfair practices
Posted : 2021-01-22 17:12
Updated : 2021-01-22 17:33
Fair Trade Commission Chairwoman Joh Sung-wook, center, listens to Woowa Brothers founder Kim Bong-jin, right, and CEO Kim Beom-joon at Baemin Academy Studio in Seoul, Friday. / Yonhap
Antitrust regulator said Friday it will seek to take punitive actions against unfair business activity by online platform operators in a bid to protect contractors and consumers.
The Korea Fair Trade Commission (KFTC) plans to submit a bill designed to prevent unfair business activity by online platform operators to the National Assembly next week, the regulator said in its 2021 policy plan.
[Newsmaker] Delivery Hero to sell Yogiyo under watchdog’s antitrust policy
DH chooses to ditch runner-up apps to acquire market champion Baemin |
The Fair Trade Commission Chairperson Joh Sung-wook. (FTC)
Germany-based Delivery Hero will concede its food delivery services Yogiyo as a cost of acquiring Woowa Brothers, the operator of market champion app Baemin, officials said Monday.
The apparently reluctant decision came after South Korea’s antitrust watchdog disapproved the monopolistic merger of the top two apps in the fast-growing food delivery market.
“We request that the Fair Trade Commission send the final notice in the first quarter next year,” the company posted on its website in the afternoon.