Sumary of The world should cheer South Korea’s battle against Big Tech:
- William Pesek is an award-winning Tokyo-based journalist and author of “Japanization: What the World Can Learn from Japan’s Lost Decades.
- “The irony was the 800-pounder in the room as South Korea slapped Google with a $177 million fine for monopolistic behavior.
- Tech giants have, after all, amassed oligarchic wealth and power by following the Korean model: a small cluster of ginormous, diversified, politically savvy conglomerates at the center of an economic universe orbited by all else.
- But nowhere is this dog-wagging-tail problem more pervasive than in South Korea.
- Google’s 80% global share of smartphone operating systems is a particular Korean concern in light of Samsung’s extreme dominance in high-end handsets.
- Still, Seoul complaining that Google freezes out competitors in a market known as the Republic of Samsung?
- Google’s 80% global share of smartphone operating systems is a particular Korean concern.
- © Reuters That said, this individual Google fine is less important than a law South Korea’s parliament approved last month curbing the payment policies of Big Tech players like Apple.