The top of South Korea’s antitrust watchdog has famous difficulties in introducing new laws to higher regulate world on-line platforms, amid shifting commerce dynamics stemming from the USA’ commerce coverage.
Final month, South Korea and the U.S. reached an settlement on the small print of South Korea’s deliberate $350 billion funding package deal tied to a broader commerce deal.
In the course of the negotiations, Washington reportedly raised considerations over a number of non-tariff measures adopted by Seoul, together with its regulatory method towards on-line platforms.
“It stays important to ascertain truthful and clear enterprise practices within the platform sector that’s deeply embedded in individuals’s each day lives,” Ju Biung-ghi, chairman of the Truthful Commerce Fee (FTC), advised reporters on Friday.
Ju, nonetheless, famous that “it could be troublesome” to introduce associated laws in the meanwhile as “commerce points are nonetheless concerned,” apparently signaling difficulties tied to Seoul’s commerce relations with Washington.
“Nevertheless, there are nonetheless methods to manage platforms underneath the prevailing authorized system,” he added.
President Lee Jae Myung has pledged to curb abuses of market dominance by world on-line platform operators by new laws, together with limits on fee charges and bans on unfair practices.
As well as, Ju emphasised that small and enterprise companies, small retailers and shoppers have to be assured full rights to share within the alternatives that innovation gives.
Relating to Baedal Minjok, or Baemin, one of many nation’s largest meals supply platforms, Ju mentioned the FTC is reviewing whether or not the corporate violated truthful commerce legal guidelines and figuring out the suitable degree of sanctions.
Baemin is accused of pressuring eating places to make use of the “Baemin Supply” service even once they most well-liked to make use of their very own couriers or these of different corporations.
The watchdog is anticipated to problem a remaining determination, which might embody corrective orders or fines for Woowa Brothers Corp., Baemin’s operator, after receiving the corporate’s formal opinion.
“The FTC will revise its coverage course and strengthen its group and capabilities to right imbalances amongst market contributors and create a good and aggressive market setting,” Ju mentioned.
