Apple pledges W100b to correct unfair practices - The Korea Herald

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Apple has decided to share advertising costs with mobile carriers and pledged to donate 100 billion won ($84 million) to support small and medium-sized enterprises to correct its business practices in South Korea, the antitrust watchdog said Monday.

The Fair Trade Commission said it has prepared a tentative agreement through several written and consultations with Apple Korea after the US tech giant applied for a consent order on June 4.

The consent order was to initiate a process to close a case -- probed by the FTC -- by voluntarily agreeing to take corrective action.

Under the agreement, Apple will improve its procedures related to advertising funds with telecom operators “transparently and fairly.” It will also delete the contract clause that requires carriers to pay for guaranteed repair costs.

As for the donation, 40 billion won will be used to establish a research SMEs, and 35 billion won will be used for education in collaboration with social enterprises. The remaining 25 billion won fund will be used to give a discount on repair costs and AppleCare services for iPhone users.

The FTC will collect opinions from stakeholders for 40 days from Aug. 25 to Oct. 3. It will also seek written consultations with the prosecutor general and gather opinions from related ministries. The agreement will then be finalized after the FTC’s deliberation and resolution. 

By Shin Ji-hye (shinjh@heraldcorp.com)

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Apple pledges W100b to correct unfair practices - The Korea Herald
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