Wednesday, October 20, 2021
Most notably, on August 31 the National Assembly (NA), which Moon’s Democrats (DP) control, revised the Telecommunications Business Act (TBA). Known locally as the ‘Anti-Google law’ but also affecting Apple, the revised TBA bans both companies from forcing third-party developers to use their own in-app billing systems and also from charging commissions thereon, among other restrictions.
- As a major exporter and industrial power keen to nurture high-tech, South Korea cannot push large corporates too far.
- South Korean policy action could influence similar regulations in other markets.
- Seoul’s tech ties with Beijing will become problematic as US-China tensions grow.