SEOUL, July 5 (SocialNews.XYZ) South Korean regulators said on Friday they will ask major e-commerce platforms operating in South Korea, including China's AliExpress and Temu, to submit data on their operations for market analysis.
According to Yonhap News Agency, the Fair Trade Commission (FTC) announced that after months of preliminary investigations, it will launch a full investigation into the online retail market and ask 40 major platforms to submit data on their business structures, logistics systems, revenue models, and more.
The companies on the list include Coupang, Naver, Kakao, CJ Olive Young, AliExpress and Taem, the FTC said, adding that the companies have more than 1 million monthly active users, monthly net payment volumes of more than 100 billion won ($72.49 million) or more than 1 million monthly payments.
“The investigation is intended to better address competition, innovation and other issues in a fast-growing sector in a rapidly changing business environment. Data obtained from the companies will be used for research purposes only,” FTC officials said.
Regulators are expected to prepare and publish a policy report by the end of this year.
Source: IANS
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