Republic of Korea: Korea Fair Trade Commission investigation into collusion by mobile payment providers
Progress
Current status
adopted
17 Nov 2021 in force
Scope
Implementers
Republic of Korea
Policy Area
Competition
Policy Instrument
Anti-competitive agreements regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
competition authority
Implementation Level
national
Timeline of events
Korea Fair Trade Commission fines four mobile payment platforms for colluding
On 17 November 2021, Korea’s Fair Trade Commission (KFTC) announced its decision to sanction four mobile payment platform operators with monetary penalties for collusion in an effort to collect more fees from indebted customers. The fine amounts to …
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
competition authority