Park Yong-jin "Self-regulation despite Kakao crisis? ... Unexpected President, Fair Trade Commission knocking on Bongchang"

"Urgent Need to Enact the Online Platform Act"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] Park Yong-jin, a member of the Democratic Party of Korea, proposed the enactment of the 'Online Platform Act' as a solution to the Kakao crisis. He criticized the Fair Trade Commission, which suggested solutions such as platform review guidelines and administrative rules, saying, "What are you trying to do?"

On the 17th, Park said through social media (SNS), "The 'Kakao drop' incident over the weekend revealed that the monopoly profits of online platforms go to Kakao, while the losses are borne by the entire nation," adding, "I also said during the recent Fair Trade Commission audit that the Online Platform Act (hereinafter 'On-Platform Act') must be enacted quickly, and that self-regulation alone is not enough."

He said, "Today, after President Yoon said that the Fair Trade Commission is reviewing Kakao-related issues, the Fair Trade Commission announced that it will establish platform-related review guidelines and discuss self-regulation measures," and criticized, "What are you trying to do?"

Park criticized, "Self-regulation related to platforms has already been discussed, and the problem is not administrative rules such as platform review guidelines, but the urgent enactment of the 'On-Platform Act' concerning the fair operation of online platforms, which I have been continuously emphasizing," adding, "The president is really out of touch, and the Fair Trade Commission is like someone knocking on a rice mortar while sleeping."

Park Yong-jin, the Democratic Party of Korea's presidential candidate, holds a press conference on preventing factionalism at the National Assembly Communication Office on the 8th. Photo by Yoon Dong-joo doso7@

He said, "Due to Kakao's incompetent response, the damages to small and medium-sized merchants have snowballed, and on the cold weekend, ordinary citizens had to stomp their feet in frustration because they could not catch Kakao taxis," adding, "Self-regulation or guidelines alone are not enough."

Park said, "It has become clear beyond doubt that what blocks innovation is not regulation but market monopoly platforms," and added, "Kakao now needs the law."