Tag Archives: Korea

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… Source link

South Korea legislators on Tuesday approved the first law in the world that requires app stores to let users pay for in-app purchases through multiple payment systems, a blow to the market dominance of Apple and Google, which opposed the bill. South Korea’s National Assembly passed amendments to the country’s Telecommunications Business Act that prevent app marketers like Google and Apple from forcing certain payment methods, unfairly delaying the review of mobile content and unfairly… Source link

Visitors look at Apple Inc. iPhones and iPads on display at the SK Telecom Co. T Factory flagship store in Seoul, South Korea, June 11, 2021. SeongJoon Cho | Bloomberg | Getty Images South Korea’s parliament has approved a bill that will make it the first country to impose curbs on Google and Apple’s payment policies that force developers to only use the tech giants’ proprietary billing systems. The legislation will become law once signed by President Moon Jae-in, whose party has been a vocal… Source link

After a number of delays, South Korea’s National Assembly today voted to approve the passage of its “Anti-Google law.” Nicknamed after the search giant but more wide-ranging, the law will prevent Google and Apple from forcing developers to use their in-app billing systems when building apps for their two market-dominating app stores . This is the first time globally that a government has intervened to prevent Google and Apple from imposing their own payment… Source link

SEOUL—Google and Apple Inc. will have to open their app stores to alternative payment systems in South Korea, threatening their lucrative commissions on digital sales. A bill passed Tuesday by South Korea’s National Assembly is the first in the world to dent the tech giants’ dominance over how apps on their platforms sell their digital goods. It will become law once signed by President Moon Jae-in, whose party strongly endorsed the legislation. The law… Source link

with Aaron Schaffer Welcome to The Technology 202! The newsletter is taking a brief summer break next week. We’ll be back in your inboxes full time after Labor Day. Thanks for reading. A proposal in South Korea aimed at reining in the power of Google’s and Apple’s app stores could serve as a test case for U.S. policymakers actively considering similar measures — or prove to be a cautionary tale.  A South Korean National Assembly committee on Wednesday voted to advance legislation that, if… Source link

(Bloomberg) — One of the few countries in the world where Google doesn’t dominate web searches is South Korea, where Naver Corp. leads the market and is also a big player in e-commerce and fintech. But the Korean company, which now gets more than 95% of revenue domestically, wants to boost its international presence. To help with that, Naver is considering more dollar bond sales after its debut deal last month, and it’s also eyeing a possible future U.S. initial public offering for a… Source link

One of the few countries in the world where Google doesn’t dominate web searches is South Korea, where Naver Corp. leads the market and is also a big player in e-commerce and fintech. But the Korean company, which now gets more than 95% of revenue domestically, wants to boost its international presence. To help with that, Naver is considering more dollar bond sales after its debut deal last month, and it’s also eyeing a possible future U.S. initial public offering for a unit, chief… Source link