Apple and Google could face a 2% penalty under a new Korean law

Seoul, November 20, : App store owners will be fined up to 2 percent for forcing developers into using their in-app payments systems, South Korean regulator of telecommunications said.

South Korea amended the Telecommunications Business Act in August.It became the first country to impose such restrictions on the global tech companies in-app billing policies.

According to Yonhap news agency, the move was made amid increasing global criticism against Apple and Google for their requirement that developers use their payment system to purchase digital goods in their apps.App market operators have been challenged by developers around the globe about their exclusive app payment system.

They are opposed to high commissions, and demand that they be allowed to use other systems.According to the Korea Mobile Internet Business Association, South Korea has a strong mobile app industry.The total revenue from Google Play Store was around $5 trillion won (4.23 billion dollars) and Apple App Store sales at $1.6 trillion won.Google promised earlier this month that it would offer a South Korean alternative payment method at a reduced 4 percent service fee.wh/dp #Apple #Google #penalty #Korean.