South Korea’s government reportedly began targeting leading messaging services operating in the country over competition concerns, a move drawing parallels with a Chinese government crackdown on digital platforms.
Yonhap News Agency reported the head of the Democratic Party Song Young-gil took aim at messaging and social media platform Kakao during a forum organised by members of the National Assembly.
He argued Kakao must not ignore “fair competition” as some of South Korea’s other conglomerates had, the news agency stated.
DongA Ilbo reported the government will focus on internet platforms in an annual audit starting on 1 October.
Earlier this week, Bloomberg reported Korea’s Financial Services Commission warned online platforms advertising financial services could face new regulations to protect consumers.
Over the past ten months, China’s government has more closely monitored tech companies’ business practices and compliance with regulations.Subscribe to our daily newsletter Back