Last Updated on 22/11/2021 by Khushi
As the US internet giant confronts growing scrutiny from authorities and lawmakers, Alphabet’s Google claimed on Wednesday that its presence in South Korea corresponds to approximately KRW 12 trillion (roughly Rs. 75,580 crores) in economic benefits for its customers.
Google’s declaration came only one day after the South Korean antitrust agency penalized the firm KRW 207 billion (approximately Rs. 1,300 crores) for banning customized versions of its Android operating system, the corporation’s second setback in less than a month in the nation.
This might be the ninth-largest punishment ever levied by the Korea Fair Trade Commission.
As the US internet giant confronts growing scrutiny from authorities and lawmakers, Alphabet’s Google claimed on Wednesday that its presence in South Korea corresponds to approximately KRW 12 trillion (roughly Rs. 75,580 crores) in economic benefits for its customers.
According to a report from consulting firm AlphaBeta, Google provides KRW 5.1 trillion (roughly Rs. 32,120 crores) in benefits to South Koreans each year through its Play Store, KRW 4.2 trillion (roughly Rs. 26,450 crores) through its search engine service, and 2.5 trillion won through its productivity apps, such as Google Docs.
Google also stated that it offers South Korean businesses with KRW 10.5 trillion (approximately Rs. 66,130 crores) in economic advantages each year.
Google did not say how these evaluations were done.
Susan Wojcicki, the CEO of YouTube, claimed the company contributed more than KRW 1.5 trillion (approximately Rs. 9,450 crores) to South Korea’s GDP in 2020 and generated more than 86,000 full-time employment.
“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.
Earlier this month, parliament passed an amendment to South Korea’s Telecommunications Business Act, dubbed the “anti-Google law” because it prohibits major app store operators like Google from forcing software developers to use their payment systems and effectively prevents developers from charging a commission on in-app purchases.
