The government is considering imposing antitrust regulations on large content platforms such as YouTube and Netflix amid a sharp increase in their subscription fees, an official said Thursday.
According to the senior ruling camp official, the government and the presidential office immediately took steps to address monopolistic and oligopolistic behavior by YouTube and other platforms after President Yoon Suk Yeol voiced concern during a Cabinet meeting earlier this week.
"Raising the retail price by 40 percent at once is a type of tyranny by monopolies and oligopolies," the official told local media, saying the government should draw up guidelines to protect consumer rights and interests.
"Other online video services are also foreshadowing increases in fees, so we have a shared awareness that this system cannot be delayed any further," the official said.
YouTube Premium recently announced a subscription rate increase of 42.6 percent from 10,450 won ($8) to 14,900 won.
Netflix, meanwhile, indirectly raised its fees by removing its "basic" plan. (Yonhap)
