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The homemade app market is in the limelight as an alternative to Google’s Play Store

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Seoul, February 21 (Yonhap News Agency)-The Korean app market ONE store is gaining attention as a potential alternative to Google’s Play store. In-app digital products will be purchased later this year.

The ONE Store, a subsidiary of top wireless carrier SK Telecom Co., launched the app market in 2016 as a small rival to the Play Store on Google’s Android operating system.

According to the company, the app market has grown steadily and made a profit for the first time last year, but trading on the platform has grown for 10 consecutive quarters in the last three months of last year.

Google’s new billing policy, set to take effect in October, offers new opportunities for growth for candidates in the small app market who are looking to launch later this year.

The move by U.S. tech giants is expected to raise the price of new South Korean apps affected by this policy by up to 156.8 billion won (US $ 141.8 million) this year from 2020, among such app developers. According to a report from the Korea Mobile Internet Business Association, 27.1% said they would use other app markets.

Local app developers have expressed strong opposition to Google’s decision and demanded that lawmakers limit their movements.

Members of the ruling and opposition parties have proposed a bill banning app market operators from imposing specific payment methods on mobile content transactions.

In October last year, a store that decided to discount commissions by 50% until the end of this year moved in for small app developers with monthly transaction value of less than 5 million won.

One store already offers a lower commission rate of 20% than Google, or 5% for apps that use the platform’s payment system.

However, the company faces a large market share gap compared to Google Play.

Last year’s US platform app sales in South Korea were estimated to be over 5 trillion won, accounting for 66.5% of the total, followed by Apple Inc.’s App Store with 1.6 trillion won, 21.5% with shares, and one store. Is 882.5 billion won. According to a report by the Korea Mobile Internet Business Association, it won with a 11.7% share.

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