6 days ago
Seoul seeks to ease US fears over platform bill's impact on Big Tech
South Korea's Fair Trade Commission has formally responded to concerns raised by the United States regarding the proposed Online Platform Act, stressing that the legislation will apply equally to all platform operators — both domestic and foreign.
In a statement released Thursday, the FTC confirmed that it had delivered an official written response to the US House Judiciary Committee, which last month requested clarification on the potential impact of Korea's platform regulation on American tech firms.
'The bill will be enforced under consistent legal principles and standards without discrimination between domestic and foreign enterprises,' the FTC said. 'This approach will be maintained not only in current law enforcement but also throughout the legislative process.'
The antitrust regulator further emphasized that the proposed legislation is still under deliberation in the National Assembly. 'We will collect a wide range of stakeholder opinions and strengthen cooperation between Korea and the United States as the bill progresses,' the statement read.
The US House Judiciary Committee previously sent a letter to Korea Fair Trade Commission Chairman Han Ki-jeong last month, signed by Judiciary Committee Chair Jim Jordan and Subcommittee on the Administrative State, Regulatory Reform and Antitrust Chair Scott Fitzgerald.
The US committee has reportedly expressed concern that Korea's Online Platform Act, modeled after the European Union's Digital Markets Act, could disproportionately target American tech companies such as Google, Apple and Meta.
The FTC said that it consulted with the Ministry of Foreign Affairs and other relevant agencies during the drafting process and reviewed international legislative precedents to ensure transparency and global alignment.
The Korean government and the ruling Democratic Party of Korea are reportedly considering a dual-track approach for the platform bill — separating it into two parts: a 'monopoly regulation law' aimed at curbing market dominance, and a 'fairness law' designed to protect small merchants.
In light of US sensitivities, the administration is said to be prioritizing the latter while delaying the former.
Additionally, the timeline for the bill's formal introduction and parliamentary debate is expected to be pushed back until after the Korea-US summit set for later this month.
Rep. Kang Jun-hyeon of the Democratic Party, the ruling party's secretary on the National Assembly's Political Affairs Committee, told local reporters on Monday that discussions on the Online Platform Act would take place after the summit.
'We will listen to the views of the presidential office and the government after the summit and then make a decision,' he said.
