Online platform law doesn't 'target' US tech firms, antitrust chief says

Fair Trade Commission (FTC) Chairman Ju Biung-ghi dismissed the U.S. Congress’ claim that Korea’s proposed online platform law “targets” major American tech firms. Reaffirming the antitrust watchdog’s commitment to regulating monopolistic online platforms, he also emphasized the need to impose heavier fines on Coupang and other dominant market players if they are found to have engaged in unfair business practices. Speaking at a dinner with reporters Thursday, Ju clarified that the proposed online platform law would serve as an ex-post regulation to correct unfair transactions involving online platform operators. Under the previous administration in 2024, Korea dropped its plan to predesignate dominant platforms, shifting its focus to regulating them after instances of misconduct. “Not only Coupang but also Naver and several other domestic platform operators will be subject to the law, which follows the principle of nondiscrimination against foreign companies,” Ju said. “It is not an ex-ante regulation that designates monopolistic operators or restricts their abuse of mar