South Korea to boost regulations to rein in market power abuses by platform firms
The South Korean government said it will strengthen legal and administrative regulations to rein in excessive concentration of power in the local platform market led by tech giants Naver and Kakao.In a comprehensive plan by the Ministry of Science and ICT, the Fair Trade Commission and other government agencies, the government will set up a new guideline targeting digital platform businesses, elaborating on specific rule-breaking cases in the sector.The authorities will also revise anti-trust laws to tighten…