SEOUL, Dec. 29 (Korea Bizwire) — The South Korean government said Thursday it will strengthen legal and administrative regulations to rein in excessive concentration of power in the local platform market led by tech giants Naver Corp. and Kakao Corp. In a comprehensive plan by the Ministry of Science and ICT, the Fair Trade Commission [...]
SEOUL, Oct. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it plans to come up with measures to build grounds for fair competition in the online platform market amid growing criticism that the government has failed to properly monitor Kakao Corp.’s dominant position in the market. The move came after nearly all services [...]
SEOUL, Aug. 9 (Korea Bizwire) — After gaining success on the basis of specific area-centered services, a string of apps are being transformed into so-called “super apps.” South Korea’s largest car-sharing and mobility service provider SOCAR Inc. is preparing to launch a super app that can offer all-in-one services covering not only car sharing but [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it will closely look into unfair business activity by online platform giants here amid their increased market dominance, apparently targeting Naver Corp. and Kakao Corp. Concerns have mounted that powerful online platform operators have abused their dominant market status and engaged in unfair [...]
SEOUL, Sept. 8 (Korea Bizwire) — Shares in South Korean tech giants Kakao Corp. and Naver Corp. plummeted Wednesday amid growing concerns that new regulations may be introduced to curb their dominance in the market. A day earlier, ruling Democratic Party lawmakers voiced concerns over the market dominance of tech giant Kakao and its rapid [...]