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South Korea's broadcasting and telecommunications regulator (방송미디어통신위원회) on Oct. 28 fined Google and Apple a combined 63.7 billion won ($47.6 million) for forcing app developers to use their in-app payment systems, Yonhap and the Korea Times report. Google was fined 42.9 billion won and Apple 20.81 billion won, marking the first such penalty after the regulator notified the companies of its plan in October 2023. The regulator also ordered the companies to change their payment policies to allow developers to guide users to external payment sites. The fines follow a 2021 law banning such coercion, and the decision comes as Korean financial firms like Shinhan Card and KB Kookmin Card remain hesitant to adopt Apple Pay, with Hyundai Card the only issuer so far.