© Reuters. FILE PHOTO: A 3D printed Google logo is placed on the Apple Macbook in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
By Heekyong Yang
SEOUL (Reuters) – South Korea’s parliament on Tuesday approved a bill that bans major app store operators such as Google and Apple from forcing software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases.
It is the first such curb by a major economy on the likes of Apple Inc (NASDAQ:) and Alphabet (NASDAQ:) Inc’s Google, which face global criticism for requiring the use of proprietary payment systems that charge commissions of up to 30%.
The final vote was 180 in favour out of 188 attending to pass the amendment to the Telecommunications Business Act, dubbed the “Anti-Google law.”
A spokesperson for Google could not be reached. Apple did not have an immediate comment.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment