A PYMNTS Company

Korea’s Antitrust Bill To Regulate Online Platforms In Trouble

By  |  February 22, 2021

A bill from South Korea’s antitrust regulator aimed to govern dominant e-commerce platforms is still pending in the National Assembly due to a tug of war between two government bodies, the Fair Trade Commission (KFTC) and the Korea Communications Commission, reported The Korean Times.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In the meantime, platform operators and local customers have been raising their concerns, viewing the regulatory move as excessive market intervention.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    A survey conducted by Korea Startup Forum showed Monday, February 22, that around 61% of respondents were against the government’s new restrictions on companies that operate as e-commerce platforms, particularly those that provide delivery services such as Coupang. Only 26.2% of survey participants said that they support the government’s new regulation.

    The bill, drafted by the country’s antitrust watchdog in September last year, aims to prevent unfair trade practices in the e-commerce platform sector.

    The KFTC stated the new bill was designed to limit abuses of market power in the e-commerce industry and prevent contract issues that could jeopardize local small and mid-sized enterprises.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.