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South Korea’s mobile app store operator One Store said Tuesday that it has secured an investment worth 20 billion won ($14.7 million) from Krafton, one of the country’s major game developers. Krafton said it made the investment decision to broaden its understanding of the global game market through One Store's overseas expansion. They did not disclose the size of the stake that Krafton had taken. One...
Google and Apple may face more than $50.4 million fine in South Korea for breaching in-app payment laws in another antitrust matter.
In a major move, South Korea takes action against Google and Apple for forcing developers to use their payment systems.
South Korea’s telecommunication regulator, the Korea Communications Commission (KCC), said Friday that it plans to levy fines on Google and Apple, which South Korea’s telecommunication regulator plans to fine on Google and Apple totaling up to $50.5 million for violating the country’s in-app payment laws.
According to the KCC statement, the two Big Tech giants abused market dominance to force local app developers to use their in-app payment methods rather than competitors’ payment systems and unfairly delayed app reviews to enforce the specific billing system. The commission informed Google and Apple of the implementation of corrective measures to promote fair competition in the app store marketplace. The watchdog also mentioned in the statement that Apple discriminatorily charged commissions to domestic app developers in South Korea.