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South Korea launches effort to develop platform self-regulation policy

( July 6, 2022, 08:09 GMT | Official Statement) -- MLex Summary: A pan-governmental consultative body dedicated to formulating the platform self-regulation policy of South Korea’s new government held its first meeting today. According to a statement from the country’s Ministry of Economy and Finance, the consultative body — comprised of agencies including the Ministry of Science and ICT, the Korea Fair Trade Commission, the Korea Communications Commission and the Personal Information Protection Commission — discussed ways to lay the groundwork for a self-regulatory system that balances regulation with innovation. Some of its plans unveiled today include establishing a legal basis upon which to create a private, self-regulatory organization and to give incentives to those participating in self-regulation, supporting the organization in devising various self-regulatory measures and conducting a comprehensive study into platform markets. The ministry said the organization will focus on four primary issues: abuse of superior-bargaining position, consumer issues, data/AI, and ESG.The statement, in Korean, is attached....

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