South Korea’s antitrust body is slated to tighten the leash on subscription businesses of streaming service providers such as Netflix Inc. and Spotify Technology S.A. as consumers find it difficult to cancel their subscription at any time they want and have to pay for it until a renewal.
The Korea Fair Trade Commission (FTC) sent examination reports to three over-the-top (OTT) video platforms – Netflix’s Korean affiliate, Wavve and Watcha Inc. – and two music streaming services providers – Spotify’s Korean unit and NHN Bugs Corp. – on Aug. 21 as they are accused of breaking the country’s e-commerce law for consumer protection, tech industry insiders said on Thursday. (KED)