South Korea Fines Google and Apple 63.7 Billion Won Over App Store Payment Practices
Yahoo Finance ·
South Korea's media and telecommunications regulator has penalized Google and Apple a combined 63.7 billion won for abusing their market power to push developers toward proprietary payment systems and unfairly delaying app reviews. Following an investigation launched in August 2022, the Korea Media and Communications Commission fined Google 42.9 billion won and Apple 20.8 billion won for breaching a 2021 law prohibiting app store operators from mandating specific payment methods. Both tech giants maintained high alternative commissions of 26 percent and blocked external payment links, leaving creators virtually no viable alternatives. Additionally, Apple was found to have overcharged South Korean developers between 2015 and January 2023 by calculating fees on value-added tax-inclusive prices. The firms are now required to submit compliance plans within one month and implement the necessary changes over the subsequent three months.
AI 시장 분석
The Korea Communications Commission has imposed a total fine of 63.7 billion KRW on Google and Apple for forcing in-app payment methods and delaying app reviews. Google was fined 42.9 billion KRW and Apple 20.8 billion KRW, holding them accountable for violating the Anti-In-App Payment Forcing Act. This sanction is expected to intensify regulatory pressure on the in-app payment fee policies of global Big Tech companies.
상승 영향
- Mobile Games and App Developers — With brakes applied to Google and Apple's forced in-app payments and high-rate fee policies, developers' payment choices are expected to expand and fee cost burdens to be alleviated.
하락 영향
- Big Tech Platforms — Google and Apple have been fined a total of 63.7 billion KRW, and a slowdown in platform sales and profitability is feared due to future pressure to lower in-app payment fees and allow external payments.
DYAX 전담 분석
Korean regulatory authorities have imposed a total fine of 63.7 billion KRW for actions where Google and Apple forced their own payment systems, obstructed external payment methods, and charged excessive fees. This stems from violations of the law preventing forced in-app payments, which could deal a direct blow to the profitability of global Big Tech.
Key watchpoints will be the implementation of future corrective orders by regulatory authorities and pressure to lower fees. If similar regulations spread globally, a decrease in platform fee revenue for Big Tech companies is anticipated.
AI가 생성한 분석으로 투자 자문이 아닙니다.
DYAX Investor Sentiment
Bullish (Long) 37% · Bearish (Short) 63%
459 participants
Related News
- SK Hynix Says Memory Is Sold Out Through 2029. Micron Is a Winner, Too
- UPS Soars 6% on Raised Outlook as CEO Dispels Belief That “Volume Solves All Problems”
- BofA clients dump communication services stocks at record pace after Meta slump
- Vicor Soars 11%, TTM Up [10%] as Meta’s $95 Billion AI Raise Lifts Hardware Stocks
- XLE’s Price Has Surged, but Its Dividend Barely Moved
- JPMorgan, Coca-Cola Among 7 More Companies Objecting to OKX-ICE Tokenized Stocks
