Seoul: South Korea announced that US companies will be treated equally to domestic firms under newly proposed regulations for online platforms. The announcement was made by the country's antitrust watchdog in response to an inquiry from the US House of Representatives.

According to Anadolu Agency, South Korea's Fair Trade Commission (FTC) communicated its formal response to the US House Judiciary Committee. The FTC assured that both current and future legislative measures would be non-discriminatory, applying identical legal principles and standards to both domestic and foreign companies. The proposed bill on online platform regulation remains under review and is subject to further parliamentary discussions.

The US House committee had previously requested a briefing on the proposed legislation and its potential impact on US companies. This inquiry was part of broader discussions, as the US had raised concerns about South Korea's non-tariff measures, including online platform regulations and an import ban on American beef from older cattle.

Recently, during tariff negotiations, South Korea agreed to invest $350 billion in the US. In return, the US committed to reducing its reciprocal tariff on South Korean imports from 25% to 15%.