New Korean platform rules could cost US states up to $525B, model finds
A Competere Foundation model estimates that South Korea’s proposed Online Platform Fairness Act could reduce U.S. states’ economic activity by about $525 billion over the next decade, including roughly $123 billion for California, $48.7 billion for Texas, and smaller but still multi‑billion losses for several others. The bill would expand the Korea Fair Trade Commission’s authority over certain transactions with U.S. firms, a move critics say targets American tech companies and could advantage Chinese competitors, while supporters argue it addresses discriminatory domestic practices. Prominent Republicans in Congress criticize the plan as economically harmful and strategically misaligned with longstanding U.S.–Korea ties.
