FTC chief, French digital minister discuss online platform regulation

The Fair Trade Commission Chairperson Joh Sung-wook discussed how to regulate online platform monopolies with Cedric O, French secretary of state for the digital transition and electronic communications, officials said Thursday.

The two representatives found the need to revise the law and regulations to establish order in the digital market in response to tech giants abusing their market power and not allowing new players to enter the market.

The FTC Chairperson Joh said the FTC is working on an online platform fairness act, an e-commerce act and online platform guidelines to protect consumers and to establish a fair and transparent competition in the online platform sector.

Minister Cedric O said that France is actively participating in coming up with the Digital Markets Act, a legislative proposal of the European Commission that intends to ensure fair and open digital markets.

The Digital Market Acts include tighter restrictions on targeted online ads and stronger requirements for different messaging services or social media platforms to be able to work with each other.

“Through this talk, South Korea and France reaffirmed their intention to protect consumers and respond to digital market competition, and agreed to enhance cooperation in responding effectively to giant tech companies that operate in many countries,” said the FTC.

Minister Cedric O is in charge of the French digital economy, regulatory policies and all types of telecommunications, from infrastructure to daily use cases for the French people. He had also served as treasurer of Emmanuel Macron’s presidential campaign.

Having Korean lineage on his father’s side, the minister plays an important role in bilateral communication between South Korea and France, according to officials.

By Hong Yoo (yoohong@heraldcorp.com)