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.
Indonesia’s Financial Centre Ambition: Connecting Global Capital with the Real Economy By Muhammad Verdias Yurindra Indonesia is taking a significant step toward strengthening its position in the global financial system. In July 2026, Indonesia’s Parliament approved the establishment of the Pusat Finansial Internasional Indonesia (PFII), creating a legal framework for a specialised international financial centre […]
The Next Phase of AI in Financial Services By Rohanshi Vaid Artificial intelligence is no longer new to financial services. Banks use it to detect fraud, insurers to assess risk, and financial institutions increasingly rely on it to analyse information, support compliance and improve customer service. What is changing is the role AI is expected […]
Thailand’s Data Centre Boom: Navigating the New Rules of Entry By Ong Shi Man In the first quarter of 2026, data centres accounted for the overwhelming majority of investment applications, exceeding 1 trillion baht. In 2025, the digital sector received the largest share of Board of Investment (BOI) applications, worth around THB 746 billion. […]
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