All share closes down but rand benefits from US inflation data
Choice is between democratic openness and parasitical elites having their way
Only R76m worth of settlements have been made and another 48 cases are being negotiated
The party has decided there should not be a cooling-off period as provided for in the Electoral Amendment Bill
Department of agriculture says a deal has been struck to release cargoes in Europe, but growers body says industry still faces uncertainty and huge losses
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
Former US president says he had ‘no choice’ but to invoke the fifth amendment at attorney-general’s hearing into his business dealings
Fiery hooker comes in as coach Jacques Nienaber reshuffles front row for All Blacks showdown
Now more than ever, there are tangible reasons to believe that Africa’s time is now as major firms invest in African brands, from music and art to fashion
Seoul — Google said on Wednesday its presence in South Korea amounted to almost 12-trillion won ($10.16bn) in economic benefits for its users, as the US tech giant faces increased scrutiny from regulators and politicians.
Google’s announcement came a day after South Korea’s antitrust agency fined it 207 billion won for blocking customised versions of its Android operating system — the company's second setback in the country in less than a month.
The Korea Fair Trade Commission said this could be the ninth-biggest fine it has ever imposed.
Google said during an online event that it annually provides 5.1-trillion won in benefits for South Koreans through its Play Store, 4.2-trillion won through its search engine service, and 2.5-trillion won through its productivity apps, including Google Docs, citing a report from consulting firm AlphaBeta.
Google added that it also provides 10.5-trillion won a year in economic benefits for South Korean companies. It didn’t provide how such assessments were made.
YouTube CEO Susan Wojcicki said the online video sharing and social media platform contributed more than 1.5-trillion won to South Korea’s GDP in 2020 and created more than 86,000 full-time jobs.
“We will continue to do our best to support our partners to grow and advance into the world and to positively contribute to the South Korean economy,” Google Korea’s country director Kim Kyoung-hoon said during the event.
Late last month South Korea’s parliament passed an amendment to the Telecommunications Business Act — dubbed the “anti-Google law” — to ban major app store operators from forcing software developers to use their payment systems and effectively stopping developers from charging commission on in-app purchases.
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.