FTC renews push for platform act legislation koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
The Fair Trade Commission (FTC) announced that it will soon convene a teleconference with the U.S. Chamber of Commerce to hear the opinions of American companies regarding Korea s proposed plans to regulate market-dominant online platforms, the commission said, Tuesday.
The nation’s business circle remains dissatisfied with the latest decision by an antitrust watchdog to reconsider legislation of a controversial platform act. They urged the authority to abandon the planned regulation, arguing that it has only increased unnecessary confusion across the industry over the past few months, industry officials said, Thursday.
South Korea's antitrust regulator on Wednesday said it would review its proposed act aimed at regulating monopolistic practices by major online platform players before making a further legislation push, as opposition voices grow. “We’re communicating extensively with the (related) industries here and abroad and stakeholders to legislate the platform act. … Rather than making the bill public sh.
The Korean government is willing to engage in discussions with American companies not just in Korea but also in the U.S., dismissing the latest claim by the U.S. Chamber of Commerce, which suggested that the government is hastily regulating dominant online platforms in the market without sufficient dialogue with the American business community and the U.S. government, according to the Fair Trade Commission (FTC), Tuesday.