Top Antitrust Cop Steers Korea Away From Hard Tech Crackdown
- Commission’s chair seeks balance among online platform players
- Country has legislated to open competition on app stores
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South Korea’s powerful antitrust regulator sought to defuse fears of a sweeping tech crackdown as it takes steps to rein in the influence of its fastest-growing online platforms.
Regulators will impose only the minimum necessary regulations and intervene solely where it is imperative to do so, Joh Sung-wook, chairperson of the Korea Fair Trade Commission, told Bloomberg Television in Seoul. The agency’s priority is to prevent companies with dominant market power from abusing it and hurting competition, she added.