S Korea bans app payment monopolies in world firstAFP, SEOULSouth Korean lawmakers yesterday passed a law banning tech giants Apple Inc and Alphabet Inc’s Google from forcing app developers to use their payment systems, effectively declaring their lucrative App Store and Play Store monopolies illegal. The bill was approved by 180 votes to nil in the National Assembly, making South Korea the first major economy to pass legislation on the issue, in a move that could set a precedent for other jurisdictions around the world. The law would offer users a choice of app payment providers, enabling them to bypass charges set by the store owner. “This law will certainly set a precedent for other countries, as well as app developers and content creators worldwide,” said Kang Ki-hwan of the Korea Mobile Internet Business Association. Google Korea did not respond to requests for comment.

Source: Taipei Times August 31, 2021 15:56 UTC