![](https://www.pymnts.com/wp-content/uploads/2021/08/shutterstock_1722465757-e1629824798551.jpg)
South Korea’s telecommunications regulator, the Korea Communications Commission (KCC), has officially accused tech giants Alphabet Google and Apple of abusing their dominant positions in the app market. The regulator has also warned of potential fines that could reach a staggering $50.5 million.
According to a statement released by the KCC on Friday, the two Silicon Valley powerhouses have been allegedly coercing app developers to adhere to specific payment methods and causing unjustifiable delays in the app review process. These actions have raised significant concerns about anti-competitive behavior within the South Korean app ecosystem.
In response to these allegations, the KCC is taking steps to address the situation. The commission has begun notifying Google and Apple of the need for corrective measures, and it will deliberate on the imposition of fines based on the severity of the violations.
In a statement to Reuters, Google acknowledged the KCC’s actions, stating, “What KCC has shared today is the ‘pre-notice,’ and we will carefully review and submit our response. Once the final written decision is shared with us, we will carefully review it to evaluate the next course of action.” The tech giant appears to be gearing up for a potential legal battle to defend its position.
Related: Japan Warns Apple & Google App Stores
Apple has responded with a statement expressing its disagreement with the KCC’s findings. The Cupertino-based company asserted, “We disagree with the conclusions made by the KCC in their Examiner’s Report, and believe the changes we have implemented to the App Store comply with the Telecommunications Business Act. As we have always done, we will continue to engage with the KCC to share our views.”
Source: Reuters
Featured News
Woodside Energy Acquires Tellurian for $1.2 Billion, Strengthening LNG Export
Jul 22, 2024 by
CPI
Meta Eyes Multi-Billion Dollar Stake in EssilorLuxottica Amid High-Stakes Tech Rivalry
Jul 21, 2024 by
CPI
UK CMA Probes Macquarie’s Stake in Last Mile Infrastructure
Jul 21, 2024 by
CPI
NYDFS Bolsters Crypto Oversight with Dubai Regulator Veteran
Jul 21, 2024 by
CPI
Allegations of Collusion in PacifiCorp Wildfire Settlements, Buffett’s Utility Under Scrutiny
Jul 21, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Private Equity Roll-Up Schemes
Jun 28, 2024 by
CPI
The FTC’s Focus on Private Equity is Warranted
Jun 28, 2024 by
CPI
Unraveling the Roll-Up: Private Equity’s Misunderstood Investment Strategy
Jun 28, 2024 by
CPI
Antitrust Focus on Private Equity Funds and Serial Acquisitions
Jun 28, 2024 by
CPI
Private Equity Roll-Ups Amidst Heightened Antitrust Enforcement
Jun 28, 2024 by
CPI