A bill passed Tuesday by South Korea’s National Assembly is the first in the world to dent the tech giants’ dominance over how apps on their platforms sell their digital goods. It will become law once signed by President Moon Jae-in, whose party strongly endorsed the legislation.
“As bills with similar implications are being proposed in the U.S. and Europe, South Korea’s bill will become a cornerstone for legislating app market platform regulations world-wide,” commission Chairman Han Sang-hyuk said.