Fintech News Hong Kong· Fintech News Hong Kong·· 4 hours agoSelectedAI score80
South Korea fines Google and Apple a combined approximately US$48M and requires changes to app payment rules
Korea Fines Google and Apple About US$48M Over App Payment Limits
AI brief
AI-assisted source summary · not independently verified. Content standards
South Korea’s Media and Communications Commission (KMCC) fined Google and Apple a combined KRW 63.71 billion (approximately US$47.6 million) for restricting app developers from using external payments.
Why it matters
The case involves external payment restrictions, a 26% commission, app reviews, and differences in VAT billing, showing how regulators break down compliance risks in platform payment rules.
Source:Fintech News Hong Kong · fintechnews.hk