var exactmetrics_frontend = {"js_events_tracking":"true","download_extensions":"zip,mp3,mpeg,pdf,docx,pptx,xlsx,rar","inbound_paths":"[{\"path\":\"\\\/go\\\/\",\"label\":\"affiliate\"},{\"path\":\"\\\/recommend\\\/\",\"label\":\"affiliate\"},{\"path\":\"\\\/out\\\/\",\"label\":\"Affiliate\"}]","home_url":"https:\/\/ps-engage.com","hash_tracking":"true","ua":"UA-137778178-1","v4_id":""};
var breeze_prefetch = {"local_url":"https:\/\/ps-engage.com","ignore_remote_prefetch":"1","ignore_list":["\/wp-admin\/"]};
As South Korea heads into an election year, there is no disagreement among the competing parties that the monopoly power of online platforms needs to be curbed. The only real source of debate is who will do the regulating, and how far the measures will go in the world’s 3rd biggest e-commerce market.
There are at least 3 competing regulatory efforts being considered by the National Assembly:
Bill on Online Platform User Protection proposed by the Korea Communications Commission (KCC) aims to protect users of platforms by banning the manipulation of search algorithms, depriving users of choice in which app marketplaces they can use and bans unilateral setting of user fees;
Online Platform Fairness Act proposed by the Fair Trade Commission (FTC) regulates relations between platforms and merchants, with a fine of up to 1 billion won (US$1 million) as a penalty for unfair practices such as against merchants, mandates the creation of transparent contracts and introduces liability for online platforms for damages to merchants;
The amendment to the Act on Promotion of Win-Win Cooperation Between Big Corporations and SMEs aims to boost the negotiating power of SMEs vis-a-vis Big Tech by proscribing the terms of transaction in fees and advertisements and giving the Minister for SMEs the power to take corrective actions. While this law is similar to the Online Platform Fairness Act, it is notable for defining online platforms for the first time.
Additionally, specific to e-commerce,
The proposed revision to the Electronic Commerce Consumer Protection Act championed by the FTC mandates that search results in online shopping malls and delivery apps clearly differentiate and label “pure search results” and “sponsored search results”. Online platforms that charge a commission on 3rd party listings offered on their platforms will also have joint liability for damages filed by consumers.
While the battle for control of regulatory powers (and the resulting prestige and budget) between the FTC and KCC is expected to be contentious, no one doubts that it is a matter of when – not if – the rules governing online platforms will be tightened.
By Pett Jarupaiboon When I was a student growing up in the congested Bangkok, on average, I spent around 4-5 hours a day in our family car. At some point, waking up at 0430 a.m. became a routine. Apparently, I was not the only one. Bangkok’s traffic is one of the worst in the world. […]
By Somang Yang Spurred by the speed and scale of the AI revolution heralded by ChatGPT, South Korea’s National Assembly took a significant step towards passing the world’s first comprehensive bill on Artificial Intelligence (AI). The “Bill on Fostering AI Industry and Establishing Trust” which passed the Science and Technology Information Broadcasting and Communications Committee, […]
By Desarack Teso, JD/MBA, CIPP-A, CIPP-E | Senior Advisor, Asia-Pacific Having lived in Europe from February 2020 up until earlier this month, I certainly witnessed a whole host of new digital-related legislations being adopted under the EU’s digital strategy. These legislations are getting more and more sophisticated as uptakes of old, emerging, and even novel […]
var gform_i18n = {"datepicker":{"days":{"monday":"Mo","tuesday":"Tu","wednesday":"We","thursday":"Th","friday":"Fr","saturday":"Sa","sunday":"Su"},"months":{"january":"January","february":"February","march":"March","april":"April","may":"May","june":"June","july":"July","august":"August","september":"September","october":"October","november":"November","december":"December"},"firstDay":1,"iconText":"Select date"}};
var gf_legacy_multi = [];
var gform_gravityforms = {"strings":{"invalid_file_extension":"This type of file is not allowed. Must be one of the following:","delete_file":"Delete this file","in_progress":"in progress","file_exceeds_limit":"File exceeds size limit","illegal_extension":"This type of file is not allowed.","max_reached":"Maximum number of files reached","unknown_error":"There was a problem while saving the file on the server","currently_uploading":"Please wait for the uploading to complete","cancel":"Cancel","cancel_upload":"Cancel this upload","cancelled":"Cancelled"},"vars":{"images_url":"https:\/\/ps-engage.com\/wp-content\/plugins\/gravityforms\/images"}};
var gf_global = {"gf_currency_config":{"name":"U.S. Dollar","symbol_left":"$","symbol_right":"","symbol_padding":"","thousand_separator":",","decimal_separator":".","decimals":2,"code":"USD"},"base_url":"https:\/\/ps-engage.com\/wp-content\/plugins\/gravityforms","number_formats":[],"spinnerUrl":"https:\/\/ps-engage.com\/wp-content\/plugins\/gravityforms\/images\/spinner.svg","version_hash":"2e0770058e7b160f4f360b92d8092900","strings":{"newRowAdded":"New row added.","rowRemoved":"Row removed","formSaved":"The form has been saved. The content contains the link to return and complete the form."}};
var gform_theme_config = {"common":{"form":{"honeypot":{"version_hash":"2e0770058e7b160f4f360b92d8092900"}}},"hmr_dev":"","public_path":"https:\/\/ps-engage.com\/wp-content\/plugins\/gravityforms\/assets\/js\/dist\/"};