Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

Must Read

South Korea is the first country to impose legislation on tech companies’ payment policies. The initial details of the policy are expected to be public on November 17, 2021. It was previously noted that Apple Inc and Google are not doing enough to comply with South Korean law. The law indicates that dominant App Store operators cannot force app developers to use their payment systems. As part of the policy, the South Korean government has made it clear that if Apple and Google fail to abide by the new policy, that is if both the App Store operators force the app developers to use their payment systems only, South Korea will find them.

If any such violation is found on the part of Google and Apple, South Korea will impose a fine of up to 2% of South Korean app market revenues on App Store operators. Furthermore, the dominant app market operator will also be fined up to 1% of South Korean app store revenue for delaying reviewing apps or deleting an app from the App Store. The new law and regulations imposed on tech companies’ payment policies will be implemented in March 2022. Moreover, the lawmakers also think that if the app developers find themselves at a disadvantage of having no choice but to use specific payment methods, the new law will find this to be forced, and will take necessary steps likewise.

Also Read

South Korea had passed an amendment to the Telecom Business Law this year in August. The amendment prohibits App Store operators from forcing app developers to use their payment system, in that the app developers have some sort of freedom over choosing their method of payment. However, according to a South Korean congressman, Apple and Google are not doing everything to comply with this new regulation.

Save up to 60% on OptinMonster

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -