Google and Apple's Market Dominance Under Scrutiny in South Korea
Portfolio Pulse from Anusuya Lahiri
The Korea Communications Commission (KCC) has accused Alphabet Inc (Google) and Apple Inc of abusing their dominant positions in the app market, potentially leading to fines totaling up to $50.5 million. The KCC alleges that both companies have forced app developers to adopt specific payment methods and have unfairly delayed app reviews. Google and Apple have expressed intentions to review the allegations and engage with the KCC.
October 06, 2023 | 7:12 pm
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Apple faces potential fines from South Korea's KCC for alleged market abuse. The company has expressed its intention to engage with the KCC.
The allegations of market abuse by the KCC could lead to significant fines for Apple, potentially impacting its financial position and reputation. This could negatively affect its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Google faces potential fines from South Korea's KCC for alleged market abuse. The company has expressed its intention to review the allegations.
The allegations of market abuse by the KCC could lead to significant fines for Google, potentially impacting its financial position and reputation. This could negatively affect its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100