South Korea, First Country To Cut Apple and Google Power On App Store Payments
The parliament of South Korea has approved a bill to cut Google’s – Alphabet Inc (NASDAQ:GOOGL) – and Apple Inc (NASDAQ:AAPL)’s control on app store payments, that oblige developers to use their proprietary billing systems. Q2 2021 hedge fund letters, conferences and more A Landmark DecisionAs reported by CNBC, South Korea has become the first country in the world to do so, as “Apple and Google’s policies usually require developers to pay the tech giants a commission as high as 30% of every transaction.” The bill was submitted to parliament last August, and it has widely been known as the Anti...