President Yoon: "Kakao is no different from a national infrastructure communication network to the people"
[Asia Economy Reporter Ki-min Lee] On the 17th, President Yoon Suk-yeol addressed the controversy over KakaoTalk's monopoly, stating, "I understand that the Fair Trade Commission is currently reviewing this issue." This was interpreted as indicating that the government recognizes the severe market monopoly of platforms operated by Kakao, such as KakaoTalk and KakaoT, and that state intervention may be necessary.
During a door-stepping (brief Q&A on the way to work) at the Yongsan Presidential Office that morning, when a reporter asked, "Kakao holds a significant market share in messenger services and taxis. There are talks about monopoly. Is the government considering intervention or improvements?" President Yoon replied, "Yes," confirming this.
President Yoon explained, "I hold a free market economy mindset that respects corporate autonomy and creativity," adding, "This is based on the premise that the market itself operates under a fair competition system where resources and income are distributed rationally."
He emphasized, "Especially, when the market is distorted due to monopoly or severe oligopoly, or when it reaches the level of national infrastructure, the state must naturally take necessary measures to protect the interests of the people."
In his opening remarks during the door-stepping, President Yoon also said, "I believe that most citizens who use Kakao services had a hard time this past weekend due to the disruption of Kakao's communication network and service outages," stressing, "(Although Kakao operates the network as a private company,) from the citizens' perspective, it is no different from a national backbone communication network."
He continued, "Since the National Assembly is also paying close attention, we will properly organize the necessary systems to prevent such accidents in advance, establish an immediate reporting system and public guidance when accidents occur, and ensure rapid recovery. Over the weekend, I personally asked Minister Lee Jong-ho of the Ministry of Science and ICT to monitor the situation and review how the government should respond to prevention and post-accident measures," he conveyed.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
