The revenue streams in question are central to profit growth for both Apple and Google. Sales of mobile apps and content were around 7.5 trillion won (RM26.86bil) last year and are projected to increase by 21% to 9.1 trillion won (RM34.38bil) this year, according to the Korea Mobile Internet Business Association. Google has described the legislative process in South Korea as rushed, while Apple has said the provisions will undermine parental controls, privacy and trust. Apple and Google have been lobbying politicians to block its passage in South Korea, which is an American ally and trading partner. “We are fully aware of the concerns of Apple and Google, so we will implement them in consideration of both industry stakeholders and users.” – Bloomberg

Source: The Star August 30, 2021 04:41 UTC