Big tech fined 2% revenue if they force their own in-app payment system in S Korea

South Korean has again imposed new regulations on app stores, this time with a regime that will see operators fined up to two per cent of revenue if they force their proprietary in-app payment systems on developers.

“Considering that certain payment methods compulsory acts are serious illegal acts of app market operators, an enforcement ordinance has been prepared that imposes a fine of two per cent of sales and one per cent of sales for delayed screening or deletion,” the Korea Communications Commission (KCC), yesterday announced in a (Korean language) canned statement.

The new regulation follows the September 2021 introduction of the country’s Telecommunications Business Act, which prevents tech giants from restricting payment options on their platforms – either to pay for apps or for in-app purchases. The Act also prevents the likes of Google, Apple and others from taking a cut of in-app purchases facilitated by third-party services.

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Source: Big tech fined if they force their own in-app payment system • The Register

Come on, EU, US, where are you guys?!

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