South Korea fines Google and Apple 47.6 million dollars over app store practices
FROM THE WIRE · SEEKINGALPHA.COM
[Social media applications icons with new Instagram icons] DKart/iStock Unreleased via Getty Images South Korea fined Alphabet’s Google (GOOG [https://seekingalpha.com/symbol/GOOG]) (GOOGL [https://seekingalpha.com/symbol/GOOGL]) and Apple (AAPL…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishRegulatory fine on app stores that may affect commission revenue at both tech giants.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The Korean regulator fined Google 42.9 billion won and Apple 20.8 billion won.
- 02The fines concern requiring proprietary payment systems and delaying app reviews.
- 03The companies must allow South Korean developers to use external payment systems.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Apple Inc.347.10 USDMarket closedtoday +0.93%Negative Alphabet Inc.320.58 USDMarket closedtoday +1.19%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets