Apple has agreed to contribute nearly US$90 million to small businesses and consumers in South Korea to settle an antitrust dispute.
Apple’s yearslong antitrust dispute in South Korea seemed to settle as the nation’s watchdog accepted the US tech giant’s redeeming plan to spend some 100 billion won (US$89.73 million) in supporting consumers and small-sized businesses, reported The Korea Herald.
The South Korean Fair Trade Commission (KFTC) announced Wednesday, February 3, that it has approved the financial package suggested by the local unit of Apple to wrap up its alleged unfair market practices in the past.
KFTC chair Joh Sung-Wook reportedly said it was the first time a correction scheme meant to “make up for unfair market practices” “actually provides direct benefits to consumers such as repair and warranty cost discounts.” Joh further stated the KFTC in Korea would keep watch on “whether Apple carries out the promised actions to contribute to the domestic ICT ecosystem.”
Apple Korea has for years been under probe by the antitrust watchdog over allegations that it pushed the country’s three mobile carriers — SK Telecom, KT, and LG Uplus — to bear the expenses for iPhone’s television advertisements and warranty services.
