Why KFTC Should Put Hold on Proposed Online Platform Act
Korean companies and government policy officials are rightly focused on ensuring that Korea continues its evolution from a fast follower of innovation to an innovation leader. Korea has made substantial progress in that transformation, although the Yoon administration understands more work is to be done.
But as Rob Atkinson writes in The Korea Times, it is ironic then that the Korean Fair Trade Commission (KFTC) remains stuck as a fast follower. The case in point is their effort to import the European Union's deeply flawed Digital Markets Act (DMA) to regulate large technology platforms, to the detriment of Korean digital consumers and innovation.
The KFTC needs to take a time-out and wait to see the results of the EU's ill-founded regulatory experiment.
