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SEJONG (Yonhap News) ― South Korea’s antitrust watchdog has launched an investigation into Daum Communications Corp. on suspicion that it might have been using its market power to force suppliers to accept unfair business deals, sources said Monday.
Earlier in the day, the Fair Trade Commission sent a team of investigators to the headquarters of Daum, the country’s second-largest portal operator, to obtain necessary data and documents, according to the sources.
The probe will likely focus on whether Daum has been involved in taking advantage of its market power to twist the arms of its business partners, including content providers to accept unfavorable terms of deals.
The move appears to be part of the FTC’s stepped-up investigation into the overall Internet portal industry dominated by a few players. Since May 14, the FTC has been looking into similar charges against industry leader NHN.
NHN commands about 75 percent of the country’s Internet search engine service market, followed by Daum with a 15 percent market share.
Earlier in the day, the Fair Trade Commission sent a team of investigators to the headquarters of Daum, the country’s second-largest portal operator, to obtain necessary data and documents, according to the sources.
The probe will likely focus on whether Daum has been involved in taking advantage of its market power to twist the arms of its business partners, including content providers to accept unfavorable terms of deals.
The move appears to be part of the FTC’s stepped-up investigation into the overall Internet portal industry dominated by a few players. Since May 14, the FTC has been looking into similar charges against industry leader NHN.
NHN commands about 75 percent of the country’s Internet search engine service market, followed by Daum with a 15 percent market share.
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Articles by Korea Herald
