Consultants Marn-Ki Jeong and Ki-Soon Park and Attorney David K. S. Oh of Dentons Lee analyze the economic impact of the proposed Online Platform Fairness Act and offer[...]

Consultants Marn-Ki Jeong and Ki-Soon Park and Attorney David K. S. Oh of Dentons Lee delivered a keynote address and led designated panel discussions at the 82nd Industrial Development Forum hosted by the Korea Industrial Alliance Forum on January 29, 2026, at the Automobile Hall in Seocho-dong, Seoul. The forum was held under the theme, "Regulation and the Economy - Economic Effects and Outlook upon the Introduction of the Online Platform Fairness Act. During the forum, the Dentons Lee speakers examined the economic implications of the proposed Online Platform Fairness Act and presented recommendations regarding its regulatory direction.

At the forum, discussions addressed the regulatory framework surrounding the introduction of the Online Platform Fairness Act, including ex ante regulation versus ex post enforcement, the impact on industrial competitiveness and employment, potential linkages with the U.S.-Korea trade environment, and changes in the global platform competitive landscape. Approximately 90 industry representatives and more than 20 media organizations attended the forum. The presentations were recorded and broadcast on KBS 1 Radio's Economic Seminar program.

Consultant Marn-Ki Jeong, in his keynote presentation, provided an estimated analysis indicating that, upon full implementation of the Online Platform Fairness Act, per capita GDP could decline by 12.6%, with cumulative economic losses over a ten-year period reaching up to USD 469 billion (approximately KRW 670 trillion). He further shared quantitative findings regarding the impact of introducing an opt-in requirement for targeted advertising on production and employment, emphasizing the need for policy design that takes into account Korea's industrial structure and the current level of platform self-reliance. In addition, he noted that, rather than uniformly adopting an ex ante regulatory model such as the European Union's Digital Markets Act, consideration should be given to an ex post approach grounded in the competition law framework.

Consultant Ki-Soon Park observed that, in light of Korea's highly digital-dependent economic structure, excessive ex ante regulation may constrain the innovation ecosystem. He further noted that, amid intensifying competition between U.S. and Chinese platform companies in the global marketplace, regulatory measures that limit the growth capacity of domestic enterprises could, as a practical matter, increase the likelihood of market expansion by foreign platforms. He also emphasized that regulatory structures effectively targeting companies of a particular country could potentially escalate into U.S.-Korea trade issues, underscoring the importance of a balanced policy design that comprehensively considers industrial competitiveness as well as the broader diplomatic and trade environment.

Attorney David K. S. Oh noted that introducing an EU-style ex ante regulatory regime without sufficient review of Korea's domestic industrial structure could dampen innovation drivers and investment incentives. He explained that, while the European Union adopted the Digital Markets Act in the absence of homegrown global Big Tech companies, Korea operates in a different policy environment, given that it maintains a number of competitive local platform companies. He further referenced prior instances in which the platform market was reshaped through continuous technological innovation rather than through uniform regulatory intervention. In that context, he suggested that, instead of imposing broad ex ante prohibitions on specific business practices, a phased and carefully calibrated regulatory framework grounded in a comprehensive impact assessment of the overall industry ecosystem would be more appropriate.

Dentons Lee provides counsel to clients seeking to proactively respond to policy developments and systematically manage legal and regulatory risk, drawing on its domestic and international experience and global network in the areas of platform regulation, antitrust and competition law, and data and trade regulation.

Press Coverage:

"Online Platform Fairness Act Could Cut Per Capita GDP by 12.6%, While Chinese Platforms Stand to Benefit"

Yonhap News Agency

"A Policy Misstep Over Coupang Should be Avoided. Online Platform Fairness Act Could Reduce Korea's GDP by 12.6%"

Edaily

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