South Korean Antitrust Regulator to Investigate Gaming Companies for In-game Transactions
South Korea's Free Trade Commission will conduct an extensive review of Gaming companies.
The antitrust regulator has reached out to 10 industry giants including Blizzard, NCSoft, Nexon and Riot Games for this investigation. Underage in-game purchases are being scrutinized.
A spokesperson for the FTC has identified unfair trade practices such as limiting refunds for in-game items, limited period of use for purchased items and limited parental approval for underaged gamers. In South Korea, minors are only legally allowed to spend about $62 a month although enforcement is nigh impossible.
This comes on the heels of a similar US investigation, where the US FTC will hold a workshop in August to look into loot boxes, after growing concerns about how they are marketed to consumers; purchasing video game loot boxes, mimics gambling and is enticing for young players.
