South Korea Fines Apple and Google Combined 63.7 Billion Won Over Payment Practices

South Korea's Korea Media and Communications Commission (KMCC) has fined Apple and Google a combined 63.7 billion won ($47.6 million) for abusing app market dominance and violating the Telecommunications Business Act. Google received a 42.9 billion won ($32 million) penalty, while Apple was assessed 20.81 billion won ($15.5 million). Regulators found both companies forced specific payment methods, delayed app reviews, and maintained restrictive 26% commissions on alternative billing. Apple was also cited for discriminatory commission calculations. Following the announcement, Apple shares dropped 0.37% to $346.15 in pre-market trading as authorities ordered corrective measures.