On Monday, Google said that it would only charge 15 percent on in-app payments from July 1. IT companies and start-ups complain that they are still forced to use the U.S. company's billing system.
Google is now so popular it has become a verb in its own right, as in “Google it.”
Google's changes to its policy for in-app purchases will cost Korean firms up to 156.8 billion won ($142.2 million), according to the Ministry of Science and ICT.
Market insiders are mapping out different scenarios for how LG Electronics could restructure its struggling smartphone business after the company admitted Wednesday that it did need to rethink the loss-making division.
Naver, Kakao and Wavve have been designated as content providers legally obliged to take responsibility for network stability, according to the Ministry of Science and ICT on Monday. They were named alongside Google, Netflix and Facebook.
The global black-out of Google services became the first case under Korea’s so-called “Netflix law” — a regulation that imposes responsibility on content providers for service failures.
One Store, a Korean Android app store, has been establishing a strong presence in the local app store market and is gaining fast on Google's own Play Store.
Google Korea will postpone the implementation of a new policy that would force a 30 percent commission fee on all in-app purchases to September 2021, the company announced Monday.
Korean IT companies are furious over Google’s Monday announcement that it would collect a 30 percent commission on all in-app purchases in applications downloaded from its Play Store starting early next year.
The antitrust agency announced new legislation to make online retail more accountable after online transactions surged during the global coronavirus pandemic.