Google and Apple’s app payments business hit by South Korea law

The amended Telecommunications Business Act was approved by the country’s National Assembly on Tuesday, with the backing of President Moon Jae-in’s party. It will become law once President Moon signs it.

Under the new law, developers will be able to select which payment systems to use to process in-app purchases, meaning they may be able to bypass hefty charges imposed by the two longtime leaders.

Apple’s commissions, for example, go as high as 30% on some purchases made through the…

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