[2022 National Audit] Apple Korea Indicates Adjusting App Price Increase Range if Exchange Rate Drops

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] Apple, which recently raised App Store app prices and in-app payment fees due to the strong US dollar, hinted at the possibility of adjusting the increase if the won-dollar exchange rate decreases.

On the 7th, Ahn Cheol-hyun, Vice President of External Cooperation at Apple Korea, appeared as a witness at the National Assembly's Political Affairs Committee audit and, in response to independent lawmaker Yang Jeong-suk's question, "Will you promptly lower prices if the exchange rate drops?" cited examples from other countries suggesting the possibility.

Vice President Ahn said, "We frequently adjust prices to provide some protection to developers when there are sudden exchange rate fluctuations."

In a written response sent by Apple Korea to lawmaker Yang's office, it was also introduced that "there have been cases where App Store app prices and in-app payment fees were updated or revenue adjusted in regions where the exchange rate changed," citing the example of price reductions in the UK and eurozone countries in August 2021.

Meanwhile, regarding the leaked terms and conditions indicating that Apple Pay and Hyundai Card will start services on the 30th of next month, Vice President Ahn declined to comment, saying, "I cannot disclose that here."