TIWN
Seoul, March 20 (TIWN) A group of major South Korean online companies have called on lawmakers to pass a bill to restrict Google's planned enforcement of its billing system, even after the US tech giant decided to lower its commission rate.
The move has drawn opposition from app developers that have circumvented Google's fee by using other payment systems. Amid mounting criticism, the tech giant has decided to reduce its commission by half to 15 percent for the first $1 million of revenue a developer earns per year starting July 1. The Korea Internet Corporations Association, which represents major local tech companies, such as top portal operator Naver and messenger operator Kakao said Google's latest move still undermines fair competition as it forces developers to use the company's billing system, reports Yonhap news agency.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals