Australia-EU Free Trade Deal Signed After Years of Negotiations 
Nanya Technology Shares Surge 10% After $2.5 Billion Private Placement from Sandisk and Cisco 
Reflection AI Eyes $25 Billion Valuation in Massive $2.5 Billion Funding Round 
Gold Prices Climb as Middle East Ceasefire Talks Stir Market Optimism 
Golden Dome Missile Defense: Anduril and Palantir Join Forces on Trump's $185B Space Shield 
Trump Tariffs Show Minimal Economic Impact but Boost Federal Revenue, Study Finds 
Australia's Inflation Eases in February but Core Pressures Persist 
Oil Prices Rebound as Iran Denies U.S. Talks Amid Gulf War Supply Fears 
Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears 
Citi Names Eric Farina and Rob Cascarino to Lead Global Infrastructure Financing Group 
Global Flight Cancellations 2026: Middle East Air Travel Chaos Explained 
U.S. Stock Futures Steady as Iran Reviews U.S. Ceasefire Proposal 
Berkshire Hathaway and Tokio Marine Form Major Strategic Insurance Partnership 
Air Canada Express Crash at LaGuardia: Controller Distracted by Prior Emergency 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Asian Currencies Stay Muted as Dollar Holds Firm Amid Iran Uncertainty 
CK Hutchison's Panama Ports Dispute Escalates as Arbitration Claims Surpass $2 Billion 
Google’s Play Store and Apple’s App Store’s in-app billing system are expected to be banned in South Korea soon as the country’s law-giving body is set to pass a bill for this. It was revealed on Wednesday, Aug. 25, that the officials will disallow the American tech companies from forcing app developers to use the payment systems on their app platforms.
As per Yonhap News Agency, the legislation and judiciary committee of the National Assembly gave the go signal for the revision of the country’s Telecommunications Business Act. The request for revision was submitted to prohibit app market operators from requiring application developers from using preferred payment systems.
It was added that an Anti-Google Law was forwarded to the highest legislature in August 2020, and this resulted from the tech firm’s announcement that it will require app developers to use Google Play’s billing system and impose a 30% commission on in-app purchases.
Once the amendment to ban the in-app billing system is approved, South Korea will become the very first nation to have such a bill that illegalizes tech company’s in-app billing policies. Earlier this year, Google lowered the commission fees to 15% for the first $1 million earnings of the developers, and Apple also cut its rate in response to the growing pressure on them.
Pulse News reported that under the revision, app market operators like Google and Apple must allow third-party payment systems on their app stores. The firms will also be prohibited from unfairly deleting apps or delaying evaluation for developers in S. Korea. This means that the developers should be given options and freely choose a payment system to use for billing transactions.
Meanwhile, it is not just South Korea that is looking into these in-app billing policies, and in fact, the regulatory commissions in Germany and the United Kingdom have also launched a probe into Apple’s in-app billing practices. Amid the scrutiny and investigations, both Google and the iPhone maker did not release statements regarding the developments, but they have previously expressed concerns over Korea's new regulations.
