Retail News

South Korea to require Google, Apple to accept third-party payments

The Wall Street Journal 08/31/2021

In a setback to Apple and Google, South Korea has passed a bill that will force the two companies to open their app stores to alternative forms of payment. Both companies have been battling regulators and other interests challenging their control over how they run the app stores. The legislation is likely to be approved by South Korea’s president Moon Jae-in and could punish offenses by imposing fines of up to three percent of domestic revenues.

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