Apple to Raise In-App Payment Price from 1,200 KRW to 1,500 KRW Starting October

[Asia Economy Reporter Lim Hye-seon] Apple will raise in-app purchase prices starting next month.

On the 19th, Apple announced on its developer website that from the 5th of next month, it will increase app and in-app purchase prices in certain countries, including South Korea. Accordingly, the price in the domestic App Store will rise from 1,200 KRW per $0.99 to 1,500 KRW. Auto-renewing subscriptions are excluded. The countries affected by the increase are South Korea, Japan, Chile, Egypt, Malaysia, Pakistan, Poland, Sweden, Vietnam, and all regions using the Euro.

Apple explained, "Once the changes take effect, the Price and Availability section of the app will be updated," and added, "Developers can change the prices of apps and in-app purchases anytime via App Store Connect." If subscriptions are offered, developers can also choose to maintain the existing prices for current subscribers.

The Apple App Store requires partner developers to price apps or in-app content in increments of $0.99. For example, $0.99 is Tier 1, $1.99 is Tier 2, and $2.99 is Tier 3. Accordingly, Apple had set prices in South Korea at 1,200 KRW for Tier 1, 2,500 KRW for Tier 2, and 3,900 KRW for Tier 3. However, with this price increase, the prices will be uniformly applied as 1,500 KRW for Tier 1, 3,000 KRW for Tier 2, and 4,400 KRW for Tier 3. From next month, consumers will have to pay 1,500 KRW for 10 cookies used to read Naver Webtoon.

Apple did not specify the reason for the price change. Industry insiders cite the strengthening of the US dollar as the reason for the increase. Apple has previously implemented price hikes in response to external factors such as taxes and exchange rates.