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Thursday, February 2, 2023

Google says it provides more than $10 billion in consumer benefits in South Korea

SEOUL-Alphabet Inc.’s Google said on Wednesday that its presence in South Korea has brought nearly 12 trillion won (US$10.16 billion) in economic benefits to its users as the US technology giant faces increasing concerns from regulators and politicians. Strict review.

The day before Google’s announcement, South Korean antitrust authorities imposed a fine of 207 billion won on Google for blocking a customized version of its Android operating system. This is the first time the company has encountered in the country in less than a month. Second setback.

The Korea Fair Trade Commission said this may be its ninth largest fine in its history.

Google stated in an online event that it provides Koreans with 5.1 trillion won worth of benefits each year through the Play Store, 4.2 trillion won through its search engine service, and through productivity apps including Google Docs. Provide 2.5 trillion won, and quoted from consulting company AlphaBeta.

Google added that it also provides 10.5 trillion won in economic benefits to South Korean companies every year.

Google did not provide how these assessments were conducted.

YouTube CEO Susan Wojcicki said that YouTube contributed more than 1.5 trillion won to South Korea’s gross domestic product (GDP) in 2020 and created more than 86,000 full-time jobs.

“We will continue to do our utmost to support our partners to grow and go global, and make positive contributions to the Korean economy,” said Kim Kyoung-hoon, director of Google Korea during the event.

Earlier, in late August, the parliament passed an amendment to the Korean Telecom Business Law-commonly referred to as the “Anti-Google Law”, which prohibits major app store operators such as Google from forcing software developers to use their payment systems, and Effectively prevent developers from charging commissions for in-app purchases.

(1 USD = 1,171.0200 KRW)

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This News Originally From – The Epoch Times

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