South Korea cracking down on internet giants

Lawmakers in South Korea have warned internet giants such as KAKAO Corp and Naver Corp against abusing their market dominance for profits. This is similar to the crackdown in China against big tech companies, as regulators and politicians in South Korea have concerns about the growing power and valuations of internet firms such as Kakao, Naver, and Coupang Inc. Kakao has Korea’s largest messaging and social media service, while Naver runs the Line messaging platform and a host of apps.