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Market Chatter: South Korea Watchdog Finds Apple, Google Violated In-App Purchase Laws

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South Korea's media watchdog found that US technology giants Apple and Google violated laws governing in-app purchases by abusing their dominant positions in the app marketplace, Yonhap News reported Wednesday.

The companies are accused of bypassing a law prohibiting large app-market operators from forcing developers to use their in-app payment systems by charging fees of about 26% on purchases made through third-party payment platforms, the report said.

The Korea Communications Commission warned the companies in 2023 that they could face the maximum possible fines, but no fines have been imposed to date, the report said.

Sanctions against the two companies have yet to be determined.

Google and Apple did not immediately respond to' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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