S. Korea states online regulations will treat US businesses equally to local firms
(MENAFN) South Korea announced Thursday that proposed regulations governing online platforms will apply equally to American companies and local businesses, according to reports.
This statement came from the country’s Fair Trade Commission (FTC) as a response to an inquiry from the US House of Representatives. The FTC confirmed that it has formally communicated its position to the US House Judiciary Committee.
“The current enforcement of the law, as well as future legislative discussions, will be conducted without discrimination between domestic and foreign companies, applying the same legal principles and standards to all,” the FTC said in an official release.
The commission added that the legislation is still being reviewed and will undergo further parliamentary debate before finalization.
Last month, the House committee had requested detailed information on the proposed online platform regulations and their potential effects on US businesses.
The issue arises amid broader trade discussions, with Washington raising concerns over several non-tariff barriers in South Korea, including these digital platform rules and an ongoing ban on American beef imports from cattle aged 30 months or older.
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