US Chamber Opposes Korea’s European-Style Competition Bill

Competition policies like those contemplated in South Korea unfairly target American tech companies and harm consumers, the U.S. Chamber of Commerce said in a statement Monday opposing Korea’s Online Platform Competition Promotion Act. The chamber asked Korean officials to provide the full text of the platform legislation and ample time to respond. Opponents say the bill is a European-style law that runs counter to international trade norms. Proposals like this “trample on competition that clearly benefits consumers, ignore good regulatory practices fundamental to sound regulatory models, and place governments in a position of violating their trade commitments by arbitrarily targeting foreign firms,” said Charles Freeman, senior vice president-Asia.